US stocks fall with oil shares in retreat and retailers mixed
24 November, 2018
Wall Street stocks fell early Friday, with petroleum shares down on plunging oil prices and retailers mixed at the start of the holiday shopping season.
Just several minutes into trading, the Dow Jones Industrial Average stood at 24,337.66, down 0.5%.
The broad-based S&P 500 fell 0.5% to 2,63455.83, while the tech-rich Nasdaq Composite Index slipped 0.2% to 6.955.67.
Dow members Exxon Mobil and Chevron dropped more than 2% as oil prices fell on global economic growth worries.
Analysts have also highlighted the US-China trade war and higher Federal Reserve interest rates as headwinds for stocks. US stocks fell significantly on both Monday and Tuesday this week before bouncing somewhat on Wednesday ahead of Thursday’s Thanksgiving holiday in the United States during which markets were closed.