ECONOMY

Stocks decline broadly as traders return from Memorial Day; oil, energy stocks hit hard

  • Trader Peter Tuchman, left, works the post that handles Time Warner Cable on the floor of the New York Stock Exchange, Tuesday, May 26, 2015.  Charter Communications is buying Time Warner Cable for $55.33 billion, creating another U.S. TV and Internet giant. (AP Photo/Richard Drew)

    Trader Peter Tuchman, left, works the post that handles Time Warner Cable on the floor of the New York Stock Exchange, Tuesday, May 26, 2015. Charter Communications is buying Time Warner Cable for $55.33 billion, creating another U.S. TV and Internet giant. (AP Photo/Richard Drew)  (The Associated Press)

  • Trader William McInerney, right, works on the floor of the New York Stock Exchange, Tuesday, May 26, 2015. Stocks are opening lower on Wall Street as traders return from the Memorial Day holiday in the U.S.(AP Photo/Richard Drew)

    Trader William McInerney, right, works on the floor of the New York Stock Exchange, Tuesday, May 26, 2015. Stocks are opening lower on Wall Street as traders return from the Memorial Day holiday in the U.S.(AP Photo/Richard Drew)  (The Associated Press)

  • Specialist Matthew Cheslock, left, works on the floor of the New York Stock Exchange, Tuesday, May 26, 2015. Stocks are opening lower on Wall Street as traders return from the Memorial Day holiday in the U.S. (AP Photo/Richard Drew)

    Specialist Matthew Cheslock, left, works on the floor of the New York Stock Exchange, Tuesday, May 26, 2015. Stocks are opening lower on Wall Street as traders return from the Memorial Day holiday in the U.S. (AP Photo/Richard Drew)  (The Associated Press)

U.S. stocks are mostly lower as traders return from the Memorial Day holiday.

Energy stocks fell more than the rest of the market Tuesday as the price of crude oil fell.

Transocean, Valero Energy and Allegheny Technologies each fell 3 percent.

The Dow Jones industrial average slumped 168 points, or 0.9 percent, to 18,063 as of 11:45 a.m. Eastern time.

The Standard & Poor's 500 lost 17 points, or 0.8 percent, to 2,107. The Nasdaq declined 55 points, or 1.1 percent, to 5,033.

Benchmark U.S. crude slumped $1.63, or 2.7 percent, to $58.09 a barrel in New York.

Time Warner Cable rose 4 percent after the company agreed to be acquired by Charter Communications for $55 billion.

The dollar rose against the Japanese yen and the euro.