Stocks slide for a third day

NEW YORK (AP) — Stocks fell for a third day Thursday as concerns continued over how violent clashes in Libya would affect the global oil market. Major indexes pared steeper losses in the afternoon after oil prices fell for the first time in nine days.

Oil fell to $97.28 a barrel after the International Energy Agency said fighting between forces loyal to Moammar Gadhafi and anti-government protesters in Libya were not affecting oil inventories as much as analysts had feared. Libya is the world’s 15th largest exporter of crude, accounting for 2 percent of global daily output. Oil had traded as high as $103.41 earlier in the day.

Traders are worried that fighting could threaten Libya’s oil production and spread to other countries.

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