Dow, S&P 500 Extend Declines as Energy Shares Plunge

Wall Street ended mostly lower as investors tackled declining oil prices and assessed the latest employment data. Oil prices plunged over five percent in the aftermath of a much stronger-than-expected increase in U.S. inventories.

The Dow Jones Industrial Average retreated 0.33 percent at 20,855.73, as Caterpillar led losses while Wal-Mart was the top gainer. The S&P 500 dropped 0.23 percent to close at 2,362.98, as energy sectors led seven sectors down while consumer discretionary outperformed. The Nasdaq Composite edged up 0.06 percent to close at 5,837.55.

The energy sector tumbled 2.5 percent, its largest loss since mid-September. Caterpillar was down 2.8 percent following a report from the New York Times which stated that it reviewed a report commissioned by the U.S. government, accusing the company of carrying out tax and accounting fraud. Shares of H&R Block jumped by almost 15 percent for their best day in more than eight years as the firm reported its quarterly results.

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