S&P MidCap 400 in Focus: YRCW MEG

The S&P MidCap 400 lost 7.02 points to 859.58. The index is used to track mid-sized companies which have a market capitalization of $1.5 billion to $5.5 billion. According to S&P, midcap stocks make up roughly 7 percent of the U.S. equities market.

The Energy Department said oil inventories fell more than expected last week, although gas and heating oil supplies rose. That helped send oil prices above $137 a barrel at times, with the price retreating to trade up $5.45 to $136.76 a barrel on the New York Mercantile Exchange.

Leading the index's declining stocks, Trucking company YRC Worldwide Inc. fell $1.25, or 7.8 percent, to $14.86.

Wood and building supplies provider Louisiana-Pacific Corp. gave up 74 cents, or 7.1 percent, to $9.75.

Fine art auctioneer Sotheby's lost $1.74, or 6.4 percent, to $25.61.

Among the gainers, Media General Inc. jumped $1.05, or 7.6 percent, to $14.60. Late Tuesday, the newspaper publisher and television station operator offered second-quarter and full-year profit estimates ahead of Wall Street estimates.

Terra Industries Inc., which makes agricultural fertilizers, advanced $2.95, or 7.5 percent, to $48.15.

PDL BioPharma Inc. added 43 cents, or 4.2 percent, to $10.69.