(CNBC) — U.S. stocks closed lower Wednesday, pressured by continued concerns about global economic growth, low oil prices and increased geopolitical tensions.
The major averages closed down more than 1 percent but off session lows.
"It's pretty much the same story. You've got China growth problems. U.S. manufacturing sector seems to be in recession territory. Pile on that (reports of) North Korea testing nukes. ... It's got a lot of people nervous," said John Caruso, senior market strategist at RJO Futures.
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Brent hit an 11-year low, while U.S. crude broke $34 a barrel to close at its lowest in seven years, amid continued concerns about oversupply.