U.S. Stocks Close Lower As Oil, Energy Drag

By Markets MarketWatch Pulse

U.S. stocks closed lower Wednesday as the energy sector and oil prices tumbled on higher domestic inventories and record production from Saudi Arabia. The Dow Jones Industrial Average closed down 37.39 points, or 0.2%, at 18,495.66, with shares of Exxon Mobil Corp. and Chevron Corp. leading decliners. The S&P 500 index fell 6.25 points, or 0.3%, to finish at 2,175.49, as the energy sector dropped 1.4%. The Nasdaq Composite index declined 20.90 points, or 0.4%, to close at 5,204.58. Crude oil for September delivery fell 2.5% to settle at $41.71 a barrel Wednesday.

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