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AP National Business

Stocks fall on tech slide, oil hits highest level since 2014

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KMIZ

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Published 9:38 AM

By DAMIAN J. TROISE and ALEX VEIGA
AP Business Writers

Stocks fell Monday as Wall Street comes off its worst week since winter. The S&P 500 fell 1.5% while the tech-heavy Nasdaq dropped 2.5%. Technology and communications stocks fell. The price of U.S. oil rose above $77 per barrel for the first time since 2014 as OPEC stuck to a plan for cautious production increases. Rising energy prices helped oil companies gain ground. Tesla rose 0.8% after the electric vehicle maker reported surprisingly good third-quarter deliveries. The yield on the 10-year Treasury note rose to 1.49% from 1.47% Friday.

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