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Stocks End Three-Day Winning Streak as Energies, Materials Fall

Wall Street's three-day winning streak ended Thursday as energy and material stocks declined and as investors took profits after the prior day's post-rate hike rally.

Nine of the 10 Standard & Poor's 500 sectors were losers with only the utility sector positive on lower Treasury yields.

West Texas Intermediate crude oil, the U.S. benchmark, declined 2.4% while Brent futures, the global benchmark, fell 1.6%, leading energy shares lower. Chevron ( CVX ) lost 3% and Exxon Mobil ( XOM ) lost 1.5% on Thursday.

Caterpillar ( CAT ) lost 4.1%, leading the blue-chip stock index to a loss of more than 200 points. Polaris Industries ( PII ), a maker of snowmobiles and all-terrain vehicles, plunged 11% after the company slashed growth expectations for 2015 earnings and sales guidance by more than half due to unusually warm weather in the U.S.

The Dow Jones Industrial Average was down 1.4%, the S&P 500 declined 1.5% and the Nasdaq Composite Index fell 1.3%.

Global stock indexes were higher as the Nikkei rose 1.6%, the Hang Seng was up 0.8% and the Shanghai China Composite gained 1.8%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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