Markets Right Now: Stocks close lower as oil slump persists

EnergyAssociated Press

The latest on developments in financial markets (all times local):

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4 p.m.

Stocks closed lower as a combination of weak economic data from China and disappointing earnings hurt technology and internet companies.

Crude oil prices fell Friday for the 10th day in a row, hurting energy companies.

Video game maker Activision Blizzard plunged 12.4 percent after forecasting weak holiday sales.

Online reviews company Yelp took a nosedive of 26.6 percent after reporting disappointing results and giving a weak forecast.

Walt Disney rose 1.7 percent after its profit surpassed analyst estimates.

The S&P 500 index fell 25 points, or 0.9 percent to 2,781.

The Dow Jones Industrial Average lost 201 points, or 0.8 percent, to 25,989. The Nasdaq composite fell 123 points, or 1.6 percent, to 7,406.

Bond prices rose. The yield on the 10-year Treasury note fell to 3.19 percent.

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11:45 a.m.

Stocks are falling on Wall Street led by drops in technology and internet companies.

Video game maker Activision Blizzard plunged 10 percent Friday after forecasting weak holiday sales.

Energy companies are also lower as the price of crude oil heads for its 10th straight decline. Traders are worried about abundant global supplies of oil.

Marathon Oil fell 2.1 percent.

Online reviews company Yelp plummeted 28 percent after reporting disappointing revenue.

Walt Disney rose 2.2 percent after its profit surpassed analyst estimates.

The S&P 500 index fell 30 points, or 1.1 percent to 2,776.

The Dow Jones Industrial Average fell 229 points, or 0.9 percent, to 25,964. The Nasdaq composite lost 133 points, or 1.8 percent, to 7,396.

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9:35 a.m.

Stocks are falling as energy companies are dragged lower by the continuing plunge in crude oil prices.

U.S. crude fell another 1.9 percent to $59.51 a barrel Friday. It's on track to fall for the 10th day in a row and has lost more than 20 percent since early October.

Chevron fell 1.3 percent and ConocoPhillips slid 2.6 percent.

Online reviews company Yelp plunged 29 percent after reporting disappointing third-quarter revenue.

Walt Disney rose 3 percent after its profit surpassed analyst estimates thanks to strong studio entertainment revenue.

The S&P 500 index fell 18 points, or 0.7 percent to 2,787.

The Dow Jones Industrial Average fell 126 points, or 0.5 percent, to 26,063. The Nasdaq composite lost 88 points, or 1.2 percent, to 7,442.