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Dow drops 100 points as oil prices hit a 5-month low; health-care vote looms

Safi Bello

CNBC ------- Energy stocks dropped more than 2 percent Thursday, capping gains in the broader market ahead of a Congress vote on health care. The Dow Jones industrial average fell 100 points in afternoon trade, with Caterpillar and Chevron contributing the most losses. The S&P 500 and the Nasdaq composite both traded 0.3 percent lower. "Energy and commodities, in general, are putting pressure on the overall equity markets here," said Adam Sarhan, CEO of 50 Park Investments. "There are also some questions about what can the Trump administration accomplish at this point." U.S. oil prices fell to its lowest level in five months, dipping below $46 a barrel after data showed a smaller-than-expected decline in U.S. inventories. "The question is whether the market sees this as a supply story or an indication of slowing growth in the economy," said Quincy Krosby, chief market strategist at Prudential Financial. To learn more click on the picture below to read the article.

Dow drops 100 points as oil prices hit a 5-month low; health-care vote looms - Read More from CNBC

 
 
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