Summary Box: Probe into Gulf oil spill hits stock market; late-day slide sends Dow down by 113

By AP
Tuesday, June 1, 2010

Summary Box: Drop in energy stocks hits market

LATE TUMBLE: Stocks suffered another late slide Tuesday after the government said it was opening criminal and civil investigations into the Gulf of Mexico oil spill. The Dow Jones industrials lost almost 113 points.

LOSING ENERGY: Shares of energy companies and oil service providers tumbled on the news. BP PLC, which operated the rig that caused the spill, fell almost 15 percent. Transocean Ltd., which owns the well, lost 12 percent.

ECONOMIC BOUNCE: Reports on manufacturing and construction spending helped keep stocks higher for much of the day before the drop at the close.

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