Dow Closes At Lowest In Two Months As IBM Sinks

U.S. stocks closed mostly lower on Wednesday with the Dow finishing at its lowest in two months as International Business Machines Corp. sank nearly 5% after it reported a double-digit drop in profit. IBM, a blue chip, has a big impact on the Dow due to its share in the benchmark. The S&P 500 fell 4 points, or 0.2%, to close at 2,338 while the Dow Jones Industrial Average shed 119 points, or 0.6%, to end at 20,403. But the Nasdaq Composite Index bucked the trend to rise 13 points, or 0.2%, to close at 5,863.