U.S. Stocks Slump As Oil, Defensive Sectors Decline

The Dow industrials and S&P 500 closed lower Thursday, snapping a three-day rally Thursday, as crude prices and defensive sectors declined. The Dow Jones Industrial Average fell 113.75 points, or 0.6%, to close at 17,982.52. The S&P 500 Index closed down 10.92 points, or 0.5%, at 2,091.48, led lower by the telecom, utilities, and consumer-staples sectors. The Nasdaq Composite Index fell 2.24 points to close at 4,945.89. Crude oil futures for June settled 2.3% lower at $43.18 a barrel.