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Drop In US Energy Use Drags Stock Market Lower

Crude oil fell $2.34 to settle at $76.94 per barrel on the New York Mercantile Exchange. Gold fell after eight days of gains, settling at $1,106.60.

The drop in oil weighed on energy stocks. Anadarko Petroleum Corp. fell $2.43, or 3.7 percent, to $62.55, while Range Resources Corp. fell $2.22, or 4.3 percent, to $48.98.

Among tech stocks, 3Com rose $1.77, or 31.1 percent, to $7.46, while H-P fell 30 cents, or 0.6 percent, to $49.70.

Advanced Micro rose $1.16, or 21.8 percent, to $6.48, and Intel fell 16 cents, or 0.8 percent, to $19.68.

Wal-Mart rose 27 cents, or 0.5 percent, to $53.24. Kohl's Corp. rose 5 cents, or 0.1 percent, to $54.64 after the department store chain's fiscal third-quarter profit rose 21 percent.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.1 percent and France's CAC-40 lost 0.2 percent. Japan's benchmark Nikkei stock average fell 0.7 percent.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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