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2017.06.2122:17:00UTC+00US Stocks Drop as Oil Prices Extends Decline

US stocks slid on Wednesday as oil prices continued taking the path of negative territory, pinning down the energy sector.

Crude futures for August settlement tumbled 2.3%, closing at $42.53 a barrel, its weakest since August. Previously, oil prices erased over 2% and entered a bear market.

The Dow Jones stood at 21,410.03, down 0.3%, with over half of the blue-chip shares losing. Also, the S&P 500 closed at 2,435.61, down by less than 0.1%, with eight major sectors scoring losses. But a leap in biotechnology stocks made the Nasdaq Composite trade at 6,233.95, up 0.7%.

Main US equity indices suffered as oil's sharp plunge pushed energy shares down. Previously, the EIA unveiled that crude supply decreased by 2.5 million barrels.

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