US STOCKS-Wall St declines as energy shares extend recent slide

miércoles 10 de diciembre de 2014 15:10 GYT

* Brent crude hits lowest level since July 2009

* Airline shares up; boosted by lower oil prices

* Indexes off: Dow 1 pct, S&P 0.9 pct, Nasdaq 0.7 pct (Updates to late morning)

By Caroline Valetkevitch

NEW YORK, Dec 10 (Reuters) - U.S. stocks extended their declines in afternoon trading on Wednesday as the energy sector resumed its recent slide along with oil prices.

The S&P energy index was down 3.3 percent, the worst performing S&P sector and on track for its fourth drop in five sessions. Brent crude touched a new five-year low of $63.56 on signs of oversupply and soft demand.

Exxon Mobil, down 3.2 percent, led declines on the S&P 500.

Falling oil prices have raised concerns about earnings for energy companies, with year-end tax selling putting additional pressure on the group. The sector, down more than 15 percent for the year so far, is the worst performing of the 10 major S&P sectors for the year.

"Oil seems to be the one theme that has more control over the direction of the market and the degree that volatility emerges than any other theme right now," said Peter Kenny, chief market strategist at Clearpool Group in New York.   Continuación...