Stocks Closed Mostly Lower; Oil Prices Dropped

U.S. stocks closed mostly lower on Wednesday as investors dealt with plunging oil prices and digested scorching employment data. The Dow Jones Industrial Average declined 69.03 points, or 0.33%, to 20,855.73. The S&P 500 was down 5.41 points, or 0.23%, to 2,362.98. The Nasdaq Composite rose 3.62 points, or 0.06%, to 5,837.55.

Oil futures sank by more than 5% Wednesday to post the lowest finish of the year after U.S. government data revealed a weekly jump in crude supplies that lifted total inventories to another record. April West Texas Intermediate crude fell $2.86, or 5.4%, to settle at $50.28 a barrel. May Brent crude fell $2.81, or 5%, to $53.11 a barrel.