US stocks close lower on falling oil

New York, March 24 (IANS) 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.

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