Crude oil prices dropped more than $2 to $78.43 per barrel as the dollar gained strength. Equity markets followed the action, breaking off from quick, early gains to fall sharply.
By close, the Dow Jones industrial average lost 104.22 points, 1.05 percent, to fall below 10,000 to 9,867.96. The Standard & Poor's 500 shed 1.17 percent, 12.65 points, to 1,066.95. The Nasdaq composite index fell 0.59 percent, 12.62 points, to 2,141.85.
On the New York Stock Exchange, 713 stocks advanced and 2,317 declined on a volume of 6.3 billion shares traded.
The benchmark 10-year U.S. Treasury fell 21/32 to yield 3.567 percent.
The euro fell to $1.4861 from Friday's $1.4996. Against the yen, the dollar rose to 92.19 yen from Friday's 92.07 yen.
In Japan, the Nikkei 225 index added 0.77 percent, 79.63, to 10,362.62.
In London, the FTSE 100 index lost 0.97 percent, 50.83, to 5,191.74.
Copyright 2009 by United Press International.
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