Dow Ends Day Down 252
S&P 500, Nasdaq also sharply lower
By Newser Editors and Wire Services
Posted Jan 6, 2016 3:16 PM CST
A trader uses his phone as he works on the floor of the New York Stock Exchange, Wednesday, Jan. 6, 2016. U.S. stocks dropped Wednesday as investors fretted about signs of belligerence from North Korea...   (Richard Drew)
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(Newser) – US stocks are closing sharply lower, led by a decline in energy stocks as the price of oil plunged to its lowest level since 2008. The price of crude closed below $34 a barrel Wednesday after more signs emerged that China's huge economy was slowing down. Oil and gas stocks bore the brunt of the selling. Southwestern Energy dropped 13% and Marathon Oil sank 12%. The Dow Jones industrial average gave up 252 points, or 1.5%, to 16,906. It was down more than 300 points earlier. The Standard & Poor's 500 index lost 26 points, or 1.3%, to 1,990, its lowest close since early October. The Nasdaq composite fell 55 points, or 1.1%, to 4,835.