NEW YORK (AP) — U.S. stocks are skidding Thursday, weighed down by weakness in mining and energy companies. Stocks have fallen for five days out of the last six following a rally in October. The dip has erased some of the small gains the markets have made this year.
KEEPING SCORE: The Dow Jones industrial average sank 109 points, or 0.6 percent, to 17,595 as of 11:16 a.m. The Standard & Poor's 500 lost 9 points, or 0.5 percent, to 2,065, just above where it started the year. The Nasdaq composite index fell 14 points, or 0.3 percent, to 5,052.
METALS SLIDE: Prices for copper and other commodities are slumping as investors anticipate that the dollar will get even stronger. The price of silver has fallen for nine days in a row and is down 10 percent since late October. The price of copper fell 2 percent to about $2.17 a pound. It's down 22 percent this year, hitting six-year lows.
Copper producer Freeport-McMoRan dropped 45 cents, or 4.8 percent, to $8.86.
THE QUOTE: The central banks of Europe and Japan are both hinting that they will step up economic stimulus policies. That would make the dollar stronger compared with the euro and yen.
On Thursday European Central Bank head Mario Draghi emphasized that the bank is willing to add more monetary stimulus to push inflation higher.