U.S. stock slid on Wednesday, snapping a four-day winning streak as retreating oil prices sunk shares of energy companies, while signs of further contraction in the service sector doused hopes the recession is abating.
U.S. front-month crude tumbled more than 4 percent, or $2.97, to $65.57 a barrel.
Shares of Chevron
The Dow Jones industrial average <.DJI> dropped 115.17 points, or 1.32 percent, to 8,625.70. The Standard & Poor's 500 Index <.SPX> dropped 17.63 points, or 1.87 percent, to 927.11. The Nasdaq Composite Index <.IXIC> dropped 24.02 points, or 1.31 percent, to 1,812.78.
The slide in oil prices coincided with a recovery in the U.S. dollar against a basket of major currencies.
(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)