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US stocks fall in wake of deadly wildfire

Consultation

FALLING US stocks fell on Wednesday after news of a wildfire in northeastern Oklahoma prompted the Federal Emergency Management Agency to declare a state of emergency in the area.

Oil and gas stocks have fallen as oil and gas companies have struggled with the wildfires that have destroyed homes, schools and other properties.

The S&P 500 index of U.S. stocks lost 6.3 per cent in the week to end on Friday.

The Dow Jones industrial average lost 11.6 per cent.

Oil prices fell to their lowest levels since June in response to the wildfires.

U.N. oil ministers said Thursday that the fires, which have killed at least 27 people, posed a global threat.

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