Stocks end lower on Wall Street as commodities prices fall

Specialist Michael Pistillo, left, and trader Timothy Nick work on the floor of the New York Stock Exchange, Tuesday, Feb. 23, 2016. Stocks are opening slightly lower on Wall Street as the market gives back some of a big gain from the day before. (AP Photo/Richard Drew)

NEW YORK (AP) — Stocks ended lower on Wall Street as another drop in commodities prices pulled down energy and materials stocks.

Cabot Oil & Gas sank 11 percent Tuesday, and Range Resources fell 9 percent.

Fitbit, which makes wearable fitness trackers, plunged 21 percent after releasing a weak forecast, and J.M. Smucker fell 2 percent after reporting sales that fell short of analysts’ forecasts.

The Dow Jones industrial average dropped 188 points, or 1.1 percent, to 16,431.

The Standard & Poor’s 500 index fell 24 points, or 1.3 percent, to 1,921. The Nasdaq composite gave up 67 points, or 1.5 percent, to 4,503.

The price of oil sank almost 5 percent to just under $32 a barrel in New York.

 

Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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