NEW YORK-Signs that China's economy is weakening and Europe is slowing sent US stocks lower. The price of crude oil dropped two per cent yesterday to its lowest level in a week. That hurt oil stocks: Alpha Natural Resources, Consol Energy, and Noble Energy each fell four per cent. The disconcerting economic news from overseas overshadowed other reports that suggested the US economy is gaining momentum. The Dow Jones industrial average closed down 78.48 points, or 0.6 percent, at 13,046.14. The Standard & Poor's 500 index fell 10.11, or 0.7 per cent, at 1,392.78, while the Nasdaq composite index fell 12 points, or 0.4 per cent to 3,063.32. Eight out of 10 sectors declined in the S&P 500, led by energy and materials as investors worried about a drop in global demand for oil and raw materials. (AP)