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Tuesday, November 24, 2020

Stocks end lower on Wall Street as commodities prices fal

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Stocks ended lower on Wall Street as another drop in commodities prices pulled down energy and materials stocks.

Cabot Oil & Gas sank 11% Tuesday, and Range Resources fell 9%.

Fitbit, which makes wearable fitness trackers, plunged 21% after releasing a weak forecast, and J.M. Smucker fell 2% after reporting sales that fell short of analysts’ forecast.

The Dow Jones industrial average dropped 188 points, or 1.1%, to 16,431.

The Standard & Poor’s 500 index fell 24 points, or 1.3%, to 1,921. The Nasdaq composite gave up 67 points, or 1.5%, to 4,503.

The price of oil sank almost 5% to just under 32 dollars a barrel in New York.

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