Stocks Retreat as Energy, Materials Shares Fall

(TheStreet) -- Stocks were down more than 1% Wednesday as oil prices fell and the dollar strengthened, pressuring energy and materials stocks. The Dow Jones Industrial Average was down by 146 points, or 1.1%, at 12,615. The S&P 500 was lower by 16 points, or 1.2%, at 1341, and the Nasdaq was lower by 30 points, or 1.1%, at 2841. Energy and basic materials stocks were seeing the biggest decliners, with Exxon Mobil XOM, Chevron CVX, DuPont DD and Alcoa AA among the Dow's biggest laggards. Continue reading the article.