NEW YORK (AP) — The stock market had its worst day of the year so far, extending a January slump. Stocks dropped Monday as falling oil prices pushed down energy stocks. The prospect of the Federal Reserve further cutting back on its economic stimulus also weighed on the market.
Stocks are falling back this year after exceptional gains pushed the market to record levels in 2013. Investors’ confidence that the economy was recovering was jolted Friday by a weak employment report that showed far fewer jobs were added in December than economists had forecast.