Market Update

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U.S. stocks closed lower today as investors extended a pull back from technology shares. In New York, the Dow Jones lost 3.09 points to 32,420.06 erasing a 360-point gain earlier in the day. Energy had powered markets higher for much of the day as a cargo ship blockage in the Suez Canal caused the price of oil to top US$60 per barrel. The S&P 500 dropped 21.38 points to 3,889.14, while the Nasdaq Composite tumbled for a second consecutive day, losing 265.81 points to 12961.89.

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