Wall Street closes lower as oil drops

Posted on: June 20th, 2017 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — A drop in oil prices pulled U.S. stocks lower on Tuesday.

The Dow Jones Industrial Average fell 61.85 (-0.29 percent) to finish at 21,467.14.

The Nasdaq slid 50.98 (-0.82 percent) to close at 6,188.03, while the S&P 500 finished at 2,437.03, down 16.43 (-0.67 percent) from its open.

Crude oil was more than 2 percent lower with prices at $43 per barrel.

Winners and Losers:  Shares of Sprint climbed 3 percent amid a report that T-Mobile’s parent company Deutsche Telekom is in favor of a merger.

According to a filing with the Securities and Exchange Commission, Chipotle Mexican Grill plans to raise its second-quarter marketing and promotion costs as the fast food chain continues to try to recover from food safety issues in 2015. Chipotle’s stock tumbled more than 7 percent.

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