Stocks are closing lower after an early rally faded. The Dow Jones industrial average fell 48 points, 0.3%, to 17,168 Wednesday. The Standard & Poor's 500 index fell 11 points, or 0.6%, to 2,018. The Nasdaq composite fell 40 points, or 0.8%, to 4,840.
Energy stocks fell the most Wednesday as the price of oil tumbled 2% to $45 a barrel. Yahoo slumped 5% after reporting a sharp drop in a closely watched measure of revenue. Not all the earnings news was bad. General Motors rose 6% after reporting earnings that beat analysts' forecasts. Boeing rose 2%. Bond prices rose. The yield on the 10-year Treasury note fell to 2.03%. (Read more Dow Jones stories.)