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Wall Street closes down on oil and Apple weaknesses

Wall Street dropped on Wednesday on weak oil prices and tech stocks. Major indices closed down within 1 percent. The Dow Jones industrial average finished down by two-thirds of one percent; the S&P 500 lost almost three-quarters of one percent; with the Nasdaq Composite down by just over 0.8 percent. That’s because forecasts of a short winter in North America and Europe piled pressure on the oversupplied commodity. On single stocks, Apple was the heaviest drag on the S&P 500 and Nasdaq Composite, falling 1.3 percent due to soft iPhone sales.

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