Volume was high as the S&P 500 touched
its lowest in two years at its session low but shaved half its loss by the
close after the Wall Street Journal reported OPEC was ready to cooperate on
crude oil production cuts, citing the UAE energy minister.
The energy sector of the S&P ended down
0.4 percent after earlier falling 3 percent.
Financial shares, however, closed near their
session low and the sector .SPSY ended at its lowest since October 2013. Bank
of America (BAC.N), down 6.8 percent at $11.16 and JPMorgan, down 4.4 percent
at $53.07, were the largest drags on the S&P 500.
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