Wall Street dropped on Wednesday as Brent crude slid towards 11-year lows and Apple weighed on the S&P 500 index, which clung to a meager gain for 2015.
The S&P energy sector .SPNY was the poorest performer among the 10 major sectors, down 1.47 per cent after forecasts of a short winter in North America and Europe piled pressure on the oversupplied commodity.
Shares of Exxon lost 1.33 per cent while Chevron dipped 1.27 per cent.  Apple was the heaviest drag on the S&P 500 and Nasdaq Composite, falling 1.31 per cent. Netflix and Amazon.com, the S&P 500's top two performers in 2015, dipped 2.02 per cent and 0.70 per cent respectively. Nike, this year's best-performing Dow component, fell 1.57 per cent.
The major indices deepened their declines in the last few minutes of trade. The Dow Jones industrial average .DJI finished 0.66 per cent weaker at 17,603.87 points and the S&P 500 .SPX lost 0.72 per cent to 2,063.36. The Nasdaq Composite .IXIC dropped 0.82 per cent to 5,065.85.
For the year, the S&P 500 held onto modest 0.2 per cent gain, while Nasdaq was up about 7 per cent. The Dow, however, was down about 1.2 per cent in 2015, according to Reuters.
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Source: The Financial Express