Published December 2, 2015 4:03pm EST | Updated December 2, 2015 6:05pm EST

U.S. Stocks Slump As Oil Shares Sell Off

U.S. stocks closed lower Wednesday, erasing all the of previous session's gains as a sharp selloff in energy and utilities shares weighed on markets. The S&P 500 energy sector dropped more than 3% after a 4% slide in crude oil prices. The S&P 500 declined 23.06 points, or 1.1%, to 2,079.57. The Dow Jones Industrial Average lost 158.67 points, or 0.9%, to 17,729.68 and turned negative for the year. The Nasdaq Composite ended the day down 33.08 points, or 0.6%, at 5,123.22.