Wall Street drops after Saudi attacks; energy stocks limit losses

REUTERS: U.S. stocks fell on Monday on global growth worries after weekend attacks on Saudi Arabia's crude facilities hit 5per cent of the world's supply, but a sharp jump in crude prices lifted beaten-down energy stocks and kept losses in check.

Market spotlight shifted to the drone attacks from this week's centerpiece, the U.S. Federal Reserve's two-day monetary policy meeting where expectations of a quarter point interest rate cut remain high. At 11:34 a.m. ET, the Dow Jones Industrial Average was down 133.39 points, or 0.49per cent, at 27,086.13, the S&P 500 was down 10.50 points, or 0.35per cent, at 2,996.89. The Nasdaq Composite was down 24.42 points, or 0.30per cent, at 8,152.29.Channel NewsAsia - Sentifi topic widget

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US: Wall Street slips at open after Saudi attacks; energy stocks surge[NEW YORK] US stocks opened lower on Monday as the weekend attack on Saudi Arabian crude facilities knocked out 5 per cent of the world's supply and added to global growth worries, while the beaten down energy stocks soared as oil prices jumped more than 10 per cent. Read more at The Business Times.
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