Markets Right Now: Energy Stocks Lead an Early Decline – ABC News

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The latest on developments in global financial markets (all times local):

9:35 a.m.

U.S. stock indexes are broadly lower in early trading on Wall Street, led by declines in energy companies as the price of oil sank.

Benchmark U.S. crude dropped 1 percent to $48 a barrel Thursday following reports that OPEC was unable to agree on production cuts.

Exxon Mobil fell 1.5 percent, the biggest loss in the Dow Jones industrial average.

Retailer Conn’s sank 23 percent after reporting results that fell short of analysts’ estimates.

The Dow fell 60 points, or 0.3 percent, to 17,731. The Standard and Poor’s 500 index lost 6 points, or 0.3 percent, to 2,092. The Nasdaq composite gave up 13 points, or 0.3 percent, to 4,938.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.82 percent.