U.S. stocks close lower

U.S. stocks ended lower on Thursday.

The Dow Jones Industrial Average fell by 592.58 points, or 1.20 percent, to 48,908.72. The S and P 500 sank 84.32 points, or 1.23 percent, to 6,798.4. The Nasdaq Composite Index shed 363.993 points, or 1.59 percent, to 22,540.586.

Nine of the 11 primary S and P 500 sectors ended in red, with materials and consumer discretionary leading the laggards by going down 2.75 percent and 2.59 percent, respectively. Meanwhile, consumer staples and utilities led the gainers by rising 0.25 percent and 0.11 percent, respectively.

U.S. stocks close lower

Oil prices fell on Thursday.

The West Texas Intermediate for March delivery lost 1.85 U.S. dollars, or 2.84 percent, to settle at 63.29 dollars a barrel on the New York Mercantile Exchange. Brent crude for April delivery dropped to 1.91 dollars, or 2.75 percent, to settle at 67.55 dollars a barrel on the London ICE Futures Exchange.

Crude futures settle lower