US STOCKS-Energy shares lead Wall St to worst day since early Oct

lunes 5 de enero de 2015 18:16 GYT

* Indexes down: Dow 1.86 pct, S&P 1.83 pct, Nasdaq 1.57 pct (Updates prices)

By Sinead Carew

NEW YORK Jan 5 (Reuters) - The S&P 500 had its worst day in almost three months on Monday, with energy shares leading the decline as global economic concerns were compounded by swooning oil prices.

The S&P closed off 1.8 percent in its first four-day losing streak since December 2013 and its biggest drop since Oct. 9. It fell as much as 1.99 percent in the session while the Dow Jones Industrial Average tumbled as much as 2 percent.

Crude oil futures prices dropped to their lowest since 2009 amid a global supply glut and lackluster demand. U.S. crude fell 5 percent to below $50 a barrel.

The euro fell to a near nine-year low against the dollar of $1.18605 on the EBS platform, tumbling on political uncertainty in Greece and fears of a possible Greek exit from the euro zone.

The Greece question was front and center for Paul Nolte, portfolio manager at Kingsview Asset Management.

"What you've done is thrown that entire area up for grabs, it will be very hard to see much in the way of economic growth if Greece has to go back to their currency," he said. "It would create a lot more chaos and take everybody's focus away from economic growth."

There were more than three times as many declining stocks on the New York Stock Exchange as advancing issues and more than twice as many Nasdaq losers than gainers.   Continuación...