US stocks fall amid lower oil, commodity prices

New York - Wall Street stock indices dropped Monday, led by energy producers struck by another drop in the price of oil. Crude oil futures fell 3.67 dollars to a 13-week low of 121.41 dollars per barrel in New York trading. Shares in Exxon Mobil Corp plunged to a 16-month low after the company reported record second- quarter profits last week. Commodity prices fell to their lowest levels since March, sparking a sell-off in metals producers including Freeport-McMoRan Copper & Gold Inc. Retailers were a bright spot on the day after an inflation gauge by the US Commerce Department showed prices climbed 0.8 per cent in June from the previous month. Consumer spending increased a more- than-forecast 0.6 per cent from May. The blue-chip Dow Jones Industrial Average fell 42.17 points, or 0.37 per cent, to 11,284.15. The broader... [read full story]