S&P slips as oil slump hits market

Associated Press

NEW YORK

A sharp drop in crude prices tugged down shares in oil and gas companies Friday, leading the Standard & Poor’s 500 index to a slight loss in a short trading session. The index, a benchmark for many investments, still closed out November with its third-best month this year.

The S&P 500 index lost 5.27 points, or 0.3 percent, to close at 2,067.56. As a group, energy companies lost 6 percent, the worst drop of the 10 sectors in the S&P 500 by far.