Stocks Sink For Second Day As Oil Hits $100

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Stocks declined for a second straight session Wednesday as oil prices surged to briefly cross the $100 per barrel mark amid mounting turmoil in Libya.

The Dow Jones industrial average fell 107 points, or 0.9%, a day after the blue-chip index plunged nearly 180 points. That was the first back-to-back triple-digit drop for the blue-chip index since June.

Meanwhile, the S&P 500 slipped 8 points, or 0.6%.

Both indexes were also dragged lower by a 10% tumble in shares of Hewlett-Packard. Late Tuesday, the computer company issued a disappointing outlook and quarterly sales figures.

The Nasdaq fell 33 points, or 1.2%, with a 7% decline in shares of Dollar Tree leading the index lower. HP is not included in the tech-heavy index.

Oil prices continued to climb, jumping more than 4% to $100 a barrel for the first time since October 2008 amid talk of production disruptions. The North African country is the first oil exporting nation to be affected by the unrest sweeping across the Arab world.

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