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U.S. stocks decline on profit-taking

Xinhua, December 10, 2015 Adjust font size:

U.S. stocks ended lower on Wednesday as investors took profits ahead of a Federal Reserve policy meeting that is expected to announce a rate hike.

The Dow Jones Industrial Average lost 75.70 points, or 0.43 percent, to 17,492.30. The S&P 500 inched down 15.97 points, or 0.77 percent, to 2,047.62. The Nasdaq Composite Index fell 75.38 points, or 1.48 percent, to 5, 022.87.

Dow Chemical and DuPont were in talks to combine, in what would be one of the largest transactions in a year full of huge deals, Wall Street Journal reported. Shares of the two companies jumped more than 10 percent in the early session Wednesday.

Chevron and Exxon Mobil were among the top advancers as well, boosted by gains in oil prices on Wednesday. The West Texas Intermediate for January delivery rebounded 2.32 percent in the early trading Wednesday, and Brent crude for January delivery rose 1.94 percent.

In Asia markets, Tokyo stocks lost ground following a disappointing showing overnight on U.S. and European bourses on concerns for the global economic recovery, and robust machinery orders data there failed to lift the market mood.

China's stocks closed mixed, with the benchmark Shanghai Composite Index up 0.07 percent. The ChiNext Index, which tracks China's NASDAQ-style board of growth enterprises, dipped 0.88 percent. Enditem