Stocks Mixed as Crude Plunges the Most in a Year: Markets Wrap
- Investors weigh geopolitical fears amid Korea, trade issues
- Energy shares feel the pain, Treasuries rise with the dollar
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U.S. stocks bounced between gains and losses as plummeting oil prices rocked energy shares and investors weighed what U.S. President Donald Trump called North Korea’s “warm and productive” response to his decision to cancel a summit with the nation’s leader Kim Jong-Un. The dollar rose with Treasuries, while gold sank.
The S&P 500 Index and Dow Jones Industrial Average fell on lighter than normal volume heading into the long Memorial Day holiday weekend, but the Nasdaq benchmarks rose on strength in semiconductor stocks. The S&P 500 Energy Index plunged more than 2.5 percent as oil posted its biggest decline in roughly a year after a Saudi minister said that petroleum supply would likely rise in the second half.