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Falling oil prices, weak global economy weigh on stocks
Falling oil prices, weak global economy weigh on stocks

NEW YORK — U.S. stocks fell Monday as oil prices turned sharply lower and spooked investors into dumping shares of drillers and other energy-service companies. The drop in oil weighed on stocks from the start of trading. Weak trade figures out of China and news that Japan’s recession is deeper than initially thought suggested demand for crude would be lower in those two economies. Among the big losers were two of the 30-company Dow Jones industrial average, Chevron, down 3.7%, and Exxon Mobil, off 2.3%. More broadly, the six-month drop in oil, which has brought the price of crude down to the lowest level in five years, suggests headwinds for the U.S. economy, said Bill...

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