S&P 500, Nasdaq slip; falling oil prices weigh on energy --- (Reuters) - The S&P 500 and Nasdaq ended lower on Tuesday as another big drop in oil prices dragged down energy shares and Priceline's earnings forecast disappointed. -- The S&P 500 energy sector .SPNY fell 1.9 percent, extending the group's recent drop, the Energy Select Sector SPDR ETF (XLE.P) dropped 2.1 percent, and Chevron Corp (CVX.N) eased 1.2 percent to $115.37. -- The Dow ended slightly higher, although it was unable to break through Friday's record close. While the market has bounced back strongly from its recent selloff, the energy sector remains under pressure from plunging oil prices. -- The price of U.S. crude oil CLc1 hit its lowest in three years after Saudi Arabia cut sales prices to the United States. Crude settled down $1.59 at $77.19 after reaching the lowest intraday price since October 2011 in the morning. -- Adding to worries about global demand, the European Commission said the euro zone will need another year to reach even modest economic growth. A Reuters report said central bankers in the euro zone plan to challenge European Central Bank President Mario Draghi's leadership style. -- "Eventually, a slowdown in Europe could affect large U.S. companies. So far, we have not seen much influence, at least in earnings reports. Next quarter could really be indicative of whether a slowdown in Europe is actually having an effect here," said Bryant Evans, portfolio manager at Cozad Asset Management in Champaign, Illinois. -- Read More, http://www.reuters.com/article/2014/11/04/us-markets-stocks-idUSKBN0IO12620141104