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US: Stocks slip as oil price drops

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US stocks fell in opening trade on Wednesday after gaining over two sessions, with a reversal in oil stocks on lower crude prices helping pull the main indices downward.

[NEW YORK] US stocks fell in opening trade on Wednesday after gaining over two sessions, with a reversal in oil stocks on lower crude prices helping pull the main indices downward.

Five minutes into trade, the Dow Jones Industrial Average fell 25.30 points (0.14 per cent) to 17,641.10.

The broad-based S&P 500 slipped 9.26 (0.45 per cent) to 2,040.77, while the tech-rich Nasdaq Composite Index lost 27.37 (0.58 per cent) at 4,700.37.

AFP

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