U.S. stocks closed lower for a second day in a row Wednesday, shedding modest early session gains, after a morning rally in oil fell apart and crude prices settled below $45 a barrel. The Dow Jones Industrial Average declined 50.58 points, or 0.3%, to close at 16,279.89, after trading up as much as 25 points and down as many as 118 points. The S&P 500 Index fell 3.98 points, or 0.2%, to close at 1,938.76. The index had been up as many as 7 points and down about 10 points earlier in the session. The Nasdaq Composite Index also slid 3.98 points, or less than 0.1%, to finish at 4,752.74. The tech-heavy index had been up as many as 24 points and down as many as 22 points.
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