(CNBC) U.S. stocks gave up attempts at gains to close lower Wednesday, shaking off an earlier boost from news of a potential merger, as investors eyed a renewed decline in oil prices. ( Tweet This )
The Dow Jones industrial average closed about 75 points lower. Earlier, the index briefly tumbled 150 points after adding nearly 200 points, with DuPont contributing most to gains. Chevron and Exxon Mobil were also among the top advancers, boosted by initial gains in oil prices. Apple was the greatest weight on the index.
The Nasdaq composite underperformed, ending about 1.5 percent lower, as Apple fell more than 2 percent to below its 50-day moving average and biotech stocks declined after standing out as advancers Tuesday.
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