Stocks are closing lower on Wall Street as investors worry that the US and China may not reach a trade deal this year, the AP reports. Technology and communications stocks helped pull the market lower Wednesday. Analog Devices, a chipmaker, fell 2.8%. AT&T lost 2.2%. Several retailers made big moves after reporting their latest quarterly results. Urban Outfitters plunged 15.2% after reporting earnings that missed estimates. Target jumped 14.1% after its results beat forecasts. Energy stocks rose as the price of crude oil jumped more than 3%. ConocoPhillips rose 3.8%.
The S&P 500 fell 11 points, or 0.4%, to 3,108. The Dow Jones Industrial Average fell 112 points, or 0.4%, to 27,821. The Nasdaq lost 43 points, or 0.5%, to 8,526. Bond prices rose. The yield on the 10-year Treasury fell to 1.73%.
(Read more stock market