US stocks close lower on falling oil

Image
IANS New York
Last Updated : Mar 24 2016 | 9:42 AM IST

US stocks ended lower as a renewed decline in oil prices weighed on Wall Street.

The Dow Jones Industrial Average dipped 79.98 points, or 0.45 percent, to 17,502.59 on Wednesday, Xinhua news agency reported.

The S&P 500 lost 13.09 points, or 0.64 percent, to 2,036.71. The Nasdaq Composite Index went down 52.80 points, or 1.10 percent, to 4,768.86.

Oil prices tumbled on Wednesday after figures showed US crude stockpiles rose last week by more than expected, with US oil settling below $40 a barrel.

US crude supplies gained 9.4 million barrels to 532.5 million barrels last week, 65.9 million barrels more than one year before, according to the weekly report released by the Energy Information Administration Wednesday.

Investors were still assessing the impacts of Tuesday's explosions in Brussels, Belgium, that left at least 34 people dead and over 200 wounded.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 24 2016 | 9:32 AM IST

Next Story