Dow Ends Day Down 158
S&P 500, Nasdaq also down
By Newser Editors and Wire Services
Posted Dec 2, 2015 3:05 PM CST
Trader Edward Curran, center, works on the floor of the New York Stock Exchange, Wednesday, Dec. 2, 2015. Stocks were mixed in early trading Wednesday ahead of a European Central Bank meeting where further...   (Richard Drew)
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(Newser) – Stocks are closing lower Wednesday, led by declines in energy stocks as the price of oil fell sharply. The Dow Jones industrial average dropped 158 points, or 0.9%, to 17,729. The Standard & Poor's 500 index lost 23 points, or 1.1%, to 2,079. The Nasdaq composite declined 33 points, or 0.6%, to 5,123.

Chevron and Exxon Mobil lost the most in the Dow. The price of oil sank 5% to close below $40 a barrel for the first time since August. The drop came after the government surprised the market by reporting a jump in crude oil inventories. Yahoo bucked the downward trend. The Internet pioneer jumped 6% following reports that the company was thinking of selling its core Internet businesses.