Stock indexes are closing with moderate losses, led by declines in energy companies as the price of oil turns lower. Exxon Mobil and Chevron had some of the biggest declines in the Dow Jones industrial average Wednesday. The Dow Jones fell 50 points, or 0.3%, to 17,867. The Standard & Poor's 500 index lost seven points, or 0.4%, to 2,102. The Nasdaq composite declined two points, or 0.1%, to 5,142.
Media companies plunged after a disappointing outlook from Time Warner. Viacom, Twenty-First Century Fox and Discovery Communications all fell. Fashion company Michael Kors Holdings jumped 8% after its results came in ahead of what analysts were expecting. Bond prices fell. The yield on the 10-year Treasury note rose to 2.23%.