US STOCKS-Wall Street slides after Saudi attacks; energy stocks surge

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* Energy stocks soar as oil prices jump 10%
* Airlines, cruise operators fall on prospects of higher
cost
* United Auto Workers call for strike on GM; shares fall
* Energy sector sole gainer among major S&P sectors
* Indexes down: Dow 0.38%, S&P 0.32%, Nasdaq 0.35%

(Updates to open)
By Medha Singh
Sept 16 (Reuters) - Wall Street slipped on Monday on global
growth worries after the weekend attack on Saudi Arabian crude
facilities knocked out 5% of the world's supply, while a more
than 10% jump in oil prices lifted beaten-down energy stocks.
The attack on the world's biggest oil exporter sent oil
prices up as much as 20% before they eased off their peaks as
U.S. President Donald Trump authorized the use of the country's
emergency oil stockpile to ensure stable supplies. O/R
The S&P 500 Energy .SPNY , one of the worst performing
sectors this year, soared 3.18%, its best day since Jan. 4.
At least 14 of the top advancers on the S&P 500 were energy
stocks. Shares of Marathon Oil Corp MRO.O and Devon Energy
Corp DVN.N rose more than 8% each and led the gains.
The supply disruptions should put a bid into U.S. energy
stocks, which have meaningfully lagged the broader market, JPM
analysts wrote in a note.
"In particular, we could see a positive move in the oily
small and mid-cap group."
Meanwhile, anticipation of higher fuel costs drove down
shares of airlines and cruise line operators. American Airlines
Group Inc AAL.O , Delta Air Lines Inc DAL.N and Carnival Corp
CCL.N fell between 2% and 5%.
Ten of the major S&P sectors were lower, with technology
shares .SPLRCT weighing the most.
Investors' flight to safety pulled the U.S. benchmark
10-year Treasury bond yields US10YT=RR down from their
multi-week highs, sending the interest-rate sensitive bank
sub-sector .SPXBK down about 1%. US/
At 9:44 a.m. ET, the Dow Jones Industrial Average .DJI was
down 104.17 points, or 0.38%, at 27,115.35, the S&P 500 .SPX
was down 9.48 points, or 0.32%, at 2,997.91. The Nasdaq
Composite .IXIC was down 28.40 points, or 0.35%, at 8,148.32.
This week's centerpiece is the Federal Reserve's monetary
policy decision on Wednesday where the central bank is widely
expected to deliver the second interest rate cut this year of a
quarter basis points.
Hints on whether the central bank will keep easing its
monetary policy will be crucial in determining how long Wall
Street's strong rally will last.
Cooling trade tensions between the United States and China
last week has brought the benchmark S&P 500 .SPX about 1%
below its record high.
Among other movers, General Motors Co GM.N fell 2.7% after
the United Auto Workers (UAW) went on strike on Sunday, the
first nationwide strike at GM in 12 years. Declining issues outnumbered advancers for a 1.11-to-1 ratio
on the NYSE and a 1.23-to-1 ratio on the Nasdaq.
The S&P index recorded two new 52-week highs and one new
low, while the Nasdaq recorded 12 new highs and eight new lows.