Business

Nasdaq at record but oil firms sink Dow

NYSE traders Image copyright Reuters

A fall in oil prices dragged down energy stocks on Wednesday.

Exxon Mobil shares were down 0.6% after a shareholder vote calling for the company to focus on the impact of climate change.

The Dow Jones Industrial Average was down 21 points or 0.1% at 21,008.

The broader S&P 500 was down 0.05% just 1 point 2,411.

West Texas Intermediate Crude Oil took a tumble down $1.43 on the day at $48.23.

The resolution of some technical issues in Libya raised the prospect of a supply increase and focused attention on whether Opec members would be able to limit overall production to keep prices higher.

Earlier in the day in London Brent Crude dipped below $50 a barrel.

Wall Street's tech-heavy Nasdaq hit a new high in early Wednesday trading, but ended the day at a more moderate 6,198, a fall of 4 points or 0.08%.

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