Stocks fall on drop among financials; oil rises
Stocks retreated early Monday as financial stocks fell and oil prices rose. The Dow Jones industrial average fell about 100 points.
Financial stocks like American International Group Inc. declined Monday after Fitch Ratings warned Friday that it might cut its ratings on the insurer.
Light, sweet crude rose 56 cents to $115.15 per barrel on the New York Mercantile Exchange. Stocks staged a big rally Friday after crude tumbled more than $6 a barrel, its biggest percentage drop in more than four years. Investors have welcomed easing energy prices because they hope that will boost consumer spending, which accounts for more than two-thirds of the U.S. economy.
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Stocks fall on drop among financials; oil rises
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