The price of crude oil fell 96 cents, or 1 percent, to $94.21 a barrel. Oil has lost $2.41 a barrel over the past four days. On Tuesday, a leading global energy agency raised its forecast for U.S. oil production and cut its forecast for worldwide demand.

Gold fell $9.80, or 0.7 percent, to $1,424.50.

Copper dropped the most among major commodities. The July contract fell 7.2 cents, or 2.1 percent, to $3.288 a pound.

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