US stocks wobble as oil prices tumble; Starwood surges

FILE – In this Oct. 2, 2014, file photo, the statue of George Washington on the steps of Federal Hall faces the facade of the New York Stock Exchange. European and Asian stocks extended gains Monday, March 14, 2016, on expectations that central bankers meeting this week will keep intact policies supporting equity markets in some of the world’s biggest economies. (AP Photo/Richard Drew, File)

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. markets are edging lower as falling oil and gas prices drag energy companies down.

Travel-related companies are rising in midday trading Monday after a consortium led by China’s Anbang Insurance Group offered to buy Starwood Hotels. Starwood shares are up 7 percent.

Energy and materials companies led decliners in the Standard & Poor’s 500 index as the price of oil fell 4 percent.

The Dow Jones industrial average fell 17 points, or 0.1 percent, to 17,195 as of 11:55 a.m. Eastern time.

The S&P 500 fell 6 points, or 0.3 percent, to 2,015. The Nasdaq composite fell 3 points, or 0.1 percent, to 4,745.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.94 percent.

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 This material may not be published, broadcast, rewritten or redistributed.


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