Business

US shares end lower on falling oil price

NYSE trader Image copyright Reuters

US markets ended lower, after oil stocks were hit by a fall in global prices and Tiffany slipped on the departure of its chief executive.

Markets were also said to be digesting President Donald Trump's plan to review banking regulations.

The Dow Jones Industrial Average lost 0.1% to end the day at 20,052.42.

The S&P 500 fell 0.2% to 2,292.56, while the tech-heavy Nasdaq Composite Index shed 0.1% to 5,663.55.

Oil prices fell following fresh fears that an Opec deal to curb production would fail to prevent over-supply.

It hit oil-related stocks, with Devon Energy falling 3.2% and Marathon Oil down 4.1%.

At the weekend, Tiffany said Frederic Cumenal had stepped down as its chief executive following a disappointing set of results.

Shares in the company ended the day 2.46% lower.

Shares in toymaker Hasbro jumped 14.1% after its latest quarterly results beat expectations, helped by strong demand for dolls based on Walt Disney's Cinderella and Frozen.

Profits for the three months to 25 December were $192.73m, up from $175.76m a year earlier.