US STOCKS-Wall St extends selloff as oil prices fall further

martes 6 de enero de 2015 14:41 GYT

* Services sector expands at slowest rate since Feb -Markit

* ISM services short of expectations

* Factory orders fall for fourth straight month

* Indexes off: Dow 1.2 pct, S&P 1.3 pct, Nasdaq 1.7 pct (Updates to afternoon trading, changes byline)

By Caroline Valetkevitch

NEW YORK, Jan 6 (Reuters) - U.S. stocks were down more than 1 percent in afternoon trading on Tuesday, extending recent losses as data showed the pace of growth in the U.S. service sector had slowed and oil prices fell further.

Data on Tuesday pointed to slowing growth in the fourth quarter. The pace of expansion in services moderated in December and new orders for manufactured goods fell for a fourth consecutive month in November.

The S&P 500 fell below the 2,000 level for the first time since Dec. 17. On Monday, Wall Street had suffered its biggest drop since early October.

The S&P energy sector was down 1.8 percent and the biggest drag on the S&P 500. U.S. crude oil fell below $50 a barrel on mounting worries about a supply glut. U.S. crude was last down $1.85 at $48.19 after plumbing an April 2009 low at $47.74.   Continuación...