NEW YORK – Stocks are falling for a second day after oil prices hit two-year highs and computer giant Hewlett-Packard said its revenue growth is slowing.
Oil prices jumped 2.5 percent as clashes continued between Libyan leader Moammar Gadhafi's forces and anti-government protesters. Libya accounts for 2 percent of the world's daily oil output.
Hewlett-Packard sank 10 percent after announcing a disappointing revenue forecast for the rest of the year. It was the worst performing stock in the Dow Jones industrial average. Chevron Corp. rose the most in the Dow, and other oil stocks also rose.
The Dow is down 49 points, or 0.4 percent, to 12,163 in midday trading Wednesday.
The S&P 500 is down 5, or 0.4 percent, to 1,310. The Nasdaq composite is down 24, or 0.9 percent, to 2,731.
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