Markets Right Now: Oil slides again, sinking energy stocks

The latest on developments in financial markets (all times local):

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11:45 a.m.

Stocks are falling on Wall Street led by drops in technology and internet companies.

Video game maker Activision Blizzard plunged 10 percent Friday after forecasting weak holiday sales.

Energy companies are also lower as the price of crude oil heads for its 10th straight decline. Traders are worried about abundant global supplies of oil.

Marathon Oil fell 2.1 percent.


Online reviews company Yelp plummeted 28 percent after disappointing revenue.

Walt Disney rose 2.2 percent after its profit surpassed analyst estimates.

The S&P 500 index fell 30 points, or 1.1 percent to 2,776.

The Dow Jones Industrial Average fell 229 points, or 0.9 percent, to 25,964. The Nasdaq composite lost 133 points, or 1.8 percent, to 7,396.


9:35 a.m.

Stocks are falling as energy companies are dragged lower by the continuing plunge in crude oil prices.

U.S. crude fell another 1.9 percent to $59.51 a barrel Friday. It's on track to fall for the 10th day in a row and has lost more than 20 percent since early October.

Chevron fell 1.3 percent and ConocoPhillips slid 2.6 percent.

Online reviews company Yelp plunged 29 percent after disappointing third-quarter revenue.

Walt Disney rose 3 percent after its profit surpassed analyst estimates thanks to strong studio entertainment revenue.

The S&P 500 index fell 18 points, or 0.7 percent to 2,787.

The Dow Jones Industrial Average fell 126 points, or 0.5 percent, to 26,063. The Nasdaq composite lost 88 points, or 1.2 percent, to 7,442.

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