US stocks close lower on Wednesday as Dow drops 341 points

Major US stock indexes closed lower on Wednesday, while the benchmark West Texas crude price held steady at $89.08 per barrel.

The Dow Jones Industrial Average fell by 341 points, or 0.66%, ending the session at 51,180 points.

The Nasdaq Composite dropped 0.24%, or 61 points, to close at 27,538 points.

Meanwhile, the S&P 500 slipped by about 17 points, or 0.23%, finishing at 7,801 points.