Business News - U.S. markets slide Tuesday morning

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U.S. markets slide Tuesday morning

NEW YORK (UPI) -- Rising oil prices and declines in European markets helped push U.S. stock indexes lower at the opening bell in New York Tuesday.

Oil prices rose to more than $142 per barrel Tuesday on the New York Mercantile Exchange, while the FTSE index in London was down 2.5 percent and the Dow Jones Euro Stoxx 50 was down 1.9 percent.

In New York, the Dow Jones industrial average, lost 88.17 points in midmorning trading to 11,261.84, down 0.78 percent. The Standard and Poor's 500 index fell 10.24 points to 1,269.76, off 0.8 percent. The Nasdaq composite index fell 21.83 points to 2,271.15, off 0.95 percent.

The 10-year U.S. Treasury note jumped 17/32, to yield 3.911 percent.

The euro traded at $1.5775 from Monday's $1.5744, while the dollar traded at 105.45 yen from Friday's 106.18 yen.

In Tokyo, the Nikkei index lost 18.18 points to 13,463.20, off 0.13 percent.

Copyright 2008 by United Press International

This news arrived on: 07/01/2008

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