NEW YORK, May 5 (UPI) -- A poor showing in the energy sector spilled over into the stock market, where U.S. stock indexes tumbled Thursday.
The Dow Jones industrial average dropped 139.41 points, or 1.1 percent, to close at 12,584.17.
The Nasdaq composite lost 13.51 points, or 0.5 percent, to 2,814.72.
The Standard & Poor's 500 declined 12.22 points, or 0.9 percent, to 1,335.10.
The price for a barrel of crude oil dropped below the $100-mark for the first time since mid-March, settling at $99.80, an 8.6 percent loss.
The tumble in crude came as investors sought the safety of the dollar after a Labor Department report indicated new claims for jobless benefits increased by 43,000 to a seasonally adjusted 474,000.
"The dollar's flying and oil's getting crushed," Dave Rovelli, managing director of U.S. equity trading at Canaccord Genuity, told The Wall Street Journal. "There's a flight to safety; the risk trade is off."
The listed volume on the New York Stock Exchange was 4.65 billion shares. Declines outnumbered advancers 1,859 to 1,133.
The 10-year treasury note was 3.15 percent.
The euro was $1.454, down from Wednesday's $1.483. Against the yen, the dollar was 80.05, compared with Wednesday's 80.61 yen.
In London, the FTSE closed at 5,919.98, off 64.09 points, or 1.07 percent.
In Tokyo, the Nikkei was closed for a national holiday.
