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Another sharp drop for oil prices pulls stocks down

Another sharp drop for oil prices pulls stocks down

Stock indexes sank Tuesday after yet another drop in the price of oil dragged down shares across the energy industry. Other areas of the market had modest losses as investors wait to hear from the Federal Reserve, which began a two-day policy meeting on interest rates.

The Standard & Poor's 500 index fell 8.02 points, or 0.3%, to 2,365.45. The Dow Jones industrial average fell 44.11, or 0.2%, to 20,837.37. The Nasdaq composite fell 18.97, or 0.3%, to 5,856.82. Two stocks fell on the New York Stock Exchange for every one that rose.

The price of oil has been slipping on concerns that supplies will outweigh demand. It has dropped from nearly $55 a barrel in late February to...

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