Wednesday’s session ended in red territory. Alcoa, Bank of America, Caterpillar, and Exxon Mobil led the Dow’s descent. Stocks closed lower amid continued eurozone debt concerns. Brands dipped on a report of shrinking deposits in Spanish banks. Meanwhile, crude oil shed $3.16 to settle at $87.60 a barrel. On another note, pending homes sales slipped in April. The National Association of Realtors said their sales index fell 5.5% to 95.5, the lowest level since December. The March reading was downwardly revised to 101.1. Economists expected pending home sales to rise by 2%.
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