US STOCKS-Wall St drops as oil prices slide

martes 23 de febrero de 2016 10:55 GYT

* Crude, metal prices fall

* Fitbit sinks on weak forecast

* Western Digital down after China investor pulls out

* Indexes down: Dow 0.37 pct, S&P 0.47 pct, Nasdaq 0.49 pct (Updates to open)

By Abhiram Nandakumar

Feb 23 (Reuters) - Wall Street was lower in early trading on Tuesday, failing to sustain yet another rally in what has been a turbulent year so far, as prices of oil and other commodities resumed their declines.

Stocks have moved in tandem with volatile oil prices, which are hovering near multi-year lows, as investors see tepid demand for energy as a sign of broader global economic weakness.

The S&P financial sector has been the worst performer among the 10 major sectors this year as banks brace for a wave of potential defaults by energy companies.

JP Morgan said on Tuesday it would set aside an additional $500 million to cover losses stemming from the energy sector. Its shares were down 2 percent at $57.40.   Continuación...