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Stocks close mostly lower after oil plunges

(CNBC) — U.S. equities closed mostly lower on Wednesday as investors dealt with plunging oil prices and digested scorching employment data.

The Dow Jones industrial average fell about 70 points, with Caterpillar and Chevron contributing the most losses.

The S&P 500 closed 0.2 percent lower, with energy falling more than 2.5 percent to lead decliners.