Stocks Closed Lower as Tech Extended Selloff

U.S. stocks closed lower on Thursday as tech names sold off. The Dow Jones Industrial Average fell 14.66 points, or 0.07%, to 21,359.90. The S&P 500 declined 5.46 points, or 0.22%, to 2,432.46. The Nasdaq Composite dropped 29.39 points, or 0.47%, to 6,165.50.

Oil settled with a modest loss Thursday, as data showing that the global market remains awash in surplus oil, rising U.S. crude production and weak domestic gasoline demand kept pressure on prices. July West Texas Intermediate crude fell 27 cents, or 0.6%, to settle at $44.46 a barrel. August Brent crude gave up 8 cents, or 0.2%, to $46.92 a barrel.