US stocks fall for second day as weak oil price weighs
|London | Wall Street | Asia|
(Close): US shares closed lower for a second consecutive trading session on Monday after further falls in the price of oil hit energy firms' shares.
The tech-heavy Nasdaq fell 39.4 points to 4664.71.
"The market is nervous about lower energy prices and whether they are forecasting a slowdown in global economic growth," said Sam Stovall, chief investment strategist at S&P Capital IQ.
The company reduced its full-year adjusted earnings forecast to $4.15-$4.20 a share from $4.20-$4.30 a share, and added that it expected "significant headwinds" from the strength of the US dollar.
For the two months to 31 December, Tiffany recorded net sales of $1.02bn, down 1% from a year earlier. Chairman and chief executive Michael J Kowalski said: "Clearly, sales for the holiday period were disappointing overall."