(CNBC) — U.S. stocks closed mildly lower Wednesday in light volume trade as investors eyed oil and commodity prices, amid weak manufacturing China data.
"We've been bouncing around all day. We've been going up and down with energy prices," said Art Hogan, chief market strategist at Wunderlich Securities. "Our mid-term and longer-term concerns aren't going to be answered for a while."
Crude traded more than 3 percent lower in the afternoon despite initially spiking on a report that U.S. crude inventories fell by 1.9 million barrels. Crude settled down $1.88, or 4.06 percent, at $44.48 a barrel.
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