Updated from 4:09 p.m. EDT

Stocks ended another volatile session lower Wednesday, as spiking bond yields and more weakness in energy-company shares scared off buyers.

The Dow Jones Industrial Average fell 32.89 points, or 0.32%, to 10,344.98, while the S&P 500 lost 5.16 points, or 0.43%, to 1191.38. The Nasdaq Composite was down 9.40 points, or 0.45%, at 2100.05.

DuPont ( DD) was the Dow's best gainer, finishing up 1.7%, while Boeing ( BA), which reported earnings Wednesday, was the main drag.

In other markets, the 10-year Treasury was down 14/32 in price to yield 4.59%, while the dollar rose against the yen and euro.

"Today was a reflection of interest rates going up," said Art Hogan, chief market analyst with Jefferies. "There's also an overhang from the earnings season because there's more bad news than we've been used to for the last 13 quarters. Guidance has been opaque."

Oil closed sharply lower after a choppy trading session. An Energy Department report showed U.S. crude inventories rose by 4.4 million barrels last week, about twice the expected gain, while gasoline stocks were little changed and distillates fell. The December crude contract finished up $1.78 to $60.66 a barrel, while gasoline futures were down 6 cents at $1.59 a gallon in Nymex floor trading.

"The market ignored falling oil prices," said Peter Cardillo, chief market analyst with S.W. Bach & Co. "All of the market's attention was focused on rising yields. We were driven by the fact that yields were touching six-month highs."

The decline in crude sent several big oil stocks lower, including Exxon ( XOM), which lost 1.8%, and Chevron ( CVX), which fell 1.7%.

About 1.78 billion shares traded on the New York Stock Exchange, with decliners beating advancers by a 2-to-1 margin. Trading volume on the Nasdaq was 1.84 billion shares, with decliners outpacing advancers 3 to 2.

Corporate earnings continued to dominate the news flow, and the day's reports were mostly decent. Postclose results from Amazon.com ( AMZN), however, weighed on the market and hammered the Internet retailer's shares.

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