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
Dow Ends Day Down 158
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 stimulus is expected to be announced as well as a speech by the head of the Federal Reserve.    (Richard Drew)

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. (More Dow Jones stories.)

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