Oil shares weigh on US markets



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Last Updated at 16 Feb 2018, 21:00 GMT *Chart shows local time Dow Jones intraday chart
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(Close): US share markets closed lower as oil shares were hit by a decline in the price of crude.

Among the oil giants, Chevron fell 1.2% while Exxon Mobil dropped 0.8%.

Brent crude hit a four-year low of $82.08 at one point. US light crude fell to a three-year low of $75.84.

The broad-based S&P 500 dropped 5.71 points to 2,017.81 although the Dow Jones was up 17.60 points at 17,383.84. The Nasdaq fell 15.27 points to 4,623.64.

Shares in Alibaba rose 4.2% after the e-commerce giant reported its first results since its flotation in September.

Economic data released on Tuesday showed that the US trade deficit widened in September, with the level of exports falling to a five-month low.

The Commerce Department figures showed the trade gap widened by 7.6% to $43.03bn in September, with exports dropping 1.5% to $195.59bn.

Separate figures showed new orders for US factory goods dropped 0.6% in September, the second month in a row they have fallen.