Stocks sank Wednesday as a sharp drop in the price of oil dragged down energy companies. U.S. crude closed below $40 a barrel for the first time since August after the government reported a surprise jump in inventories, suggesting slack demand.
The Dow Jones industrial average lost 158.67 points, or 0.9 per cent, to 17,729.68.
The Standard & Poor’s 500 index fell 23.12 points, or 1.1 per cent, to 2,079.51.
The Nasdaq composite index fell 33.08 points, or 0.6 per cent, to 5,123.22.
For the week:
The Dow is down 68.81 points, or 0.4 per cent.
The S&P 500 is down 10.60 points, or 0.5 per cent.
The Nasdaq composite is down 4.30 points, or 0.1 per cent.
For the year:
The Dow is down 93.39 points, or 0.5 per cent.
The S&P is up 20.61 points, or 1 per cent.
The Nasdaq is up 387.17 points, or 8.2 per cent.