New York - Energy and financial stocks helped lead a Wall Street retreat Tuesday in light, holiday trading. Oil futures hit a 19-month low on Tuesday, dropping below 60 dollars a barrel and fuelling a broad drop in energy listings. Continuing worries about the slowing global economy weighed on financial stocks.
Tuesday was Veterans Day in the United States, with light volume on the New York Stock Exchange.
The blue-chip Dow Jones Industrial Average lost 176.58 points, or 1.99 per cent, to 8,693.96. The broader Standard & Poor's 500 Index fell 20.26 points, or 2.2 per cent, to 898.95. The technology-heavy Nasdaq Composite Index dropped 35.84 points, or 2.22 per cent, to 1,580.9.
The US currency rose to 79.962 euro cents from 78.46 euro cents on Monday. Against the Japanese currency, the dollar slipped to 97.647 yen from 98.03 yen on Monday.
