Overseas Markets

Dow closes down 170 points, Nasdaq slides for third straight day

U.S. stocks closed lower on Thursday, with the Dow closing down 170 points and the Nasdaq recording its third consecutive session of declines. The prospect of the Federal Reserve accelerating the tightening of monetary policy put pressure on the stock index. A Federal Reserve official said the Fed may raise interest rates as early as March and then taper. U.S. initial jobless claims rose by 207,000 last week, exceeding expectations.

The Dow fell 0.47%, the Nasdaq fell 0.13% and the S&P 500 fell 0.10%.

The energy sector was generally higher. Crude oil prices climbed, pushing shares of Marathon Oil, Occidental Petroleum and Exxon Mobil higher, while Tesla shares continued to move lower.