Stocks Ended Lower, Energy Companies Dragged

U.S. stocks ended lower on Monday as a brutal selloff among energy companies, which closely tracked oil’s continued price slide, dragged down the key benchmarks. The Dow Jones Industrial Average lost 106.31 points, or 0.59%, to 17,852.48. The S&P 500 was down 0.73 points, or 0.73%, to 2,060.31. The Nasdaq Composite fell 40.06 points, or 0.84%, to 4,740.69.

Crude-oil prices again tumbled to five-year lows Monday, pressured by forecasts that a global glut of oil will persist into the first half of next year. On the New York Mercantile Exchange, crude futures for January delivery CLF5, -4.33% dropped $2.79, or 4.2%, to settle at $63.05 a barrel.

H&R Block Inc. (HRB) late Monday said its fiscal second-quarter loss widened to $112 million, or 41 cents a share, from $104.9 million, or 39 cents a share, a year ago. Revenue edged up to $134.6 million versus $134.3 million.

Fannie Mae and Freddie Mac on Monday announced details of a controversial plan to allow some first-time homeowners to obtain a mortgage while putting down just 3% of the price of the home.