US stocks fall amid oil decline

New York, Dec 31 (IANS) US stocks retreated as oil prices tumbled again after solid gains.

The Dow Jones Industrial Average fell 117.11 points, or 0.66 percent, to 17,603.87 on Wednesday, Xinhua reported.

The S&P 500 lost 15.00 points, or 0.72 percent, to 2,063.36. The Nasdaq Composite Index decreased 42.09 points, or 0.82 percent, to 5,065.85.

The volatility in oil prices dominated market sentiment.

Both the US oil and Brent crude plunged over 3 percent Wednesday as US crude stockpiles increased unexpectedly.

The West Texas Intermediate for February delivery moved down $1.27 to settle at $36.6 dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery decreased $1.33 to close at $36.46 a barrel on the London ICE Futures Exchange.

Related Posts

Leave a Reply