Stock indexes end day mostly lower

U. S. stock indexes f inished mostly lower Thursday as energy companies skidded along with oil prices. The market dropped after President Trump said he canceled a meeting with North Korean leader Kim Jong Un, but recovered most of those losses.

Crude oil futures and energy f irms fell on reports that members of the Organization of the Oil Exporting Countries may start producing more oil. Banks fell as interest rates edged down, and car companies dropped as the Trump administration considered tariffs on imported cars and car parts.

The Dow Jones industrial average fell more than 1% in the morning after Trump said the June meeting with Kim was off. Technology companies took some of the biggest losses, and defense contractors climbed.

The Standard & Poor’s 500 index fell 5.53 points to 2,727.76. The Dow Jones industrial average fell 75.05 points to 24,811.76. The Nasdaq composite slipped 1.53 points to 7,424.43. The Russell 2000 index edged up 0.61 of a point to 1,628.22.

Benchmark U. S. crude fell 1.6% to $ 70.71 a barrel. Brent crude fell 1.3% to $ 78.79 a barrel.

Various news outlets re- ported that the nations of the OPEC cartel might start producing more oil in response to reduced exports from Venezuela and Iran. Greater supplies would send prices down.

Energy companies’ stocks have slipped in recent days as investors anticipated that possibility.

Bond prices rose. The yield on the 10- year Treasury note fell to 2.97% from 2.99%, and bank shares fell.

Metals prices also increased as the dollar weakened. Gold rose 1.1% to $ 1,304.40 an ounce. Silver jumped 1.7% to $ 16.69 an ounce. Copper ticked up 0.8% to $ 3.10 a pound.

Netf lix brief ly surpassed Disney as the world’s most valuable media company when the streaming powerhouse’s shares rose more than 2% to give it a market cap of nearly $ 154 billion. By day’s end, Disney was on top again. Netf lix shares closed up 1.3% at $ 349.29. Disney fell 0.8% to $ 102.11.

In after- hours trading, Gap dived more than 7% after the clothing retailer reported a f irst- quarter profit that fell short of forecasts.

Wholesale gasoline fell 1.2% to $ 2.23 a gallon. Heating oil fell 1% to $ 2.27 a gallon. Natural gas rose 0.9% to $ 2.94 per 1,000 cubic feet.

The dollar fell to 109.28 yen from 110.07 yen. The euro rose to $ 1.1727 from $ 1.1698.