Closing Bell: Twitter Spikes on Takeover Chatter; U.S. Stocks Fall

U.S. stocks ended August on a dour note as crude oil endured another selloff.
Author:
Publish date:

U.S. stocks ended August on a dour note as crude oil endured another selloff. A larger-than-expected weekly build in crude inventories pulled oil to close at a nearly three-week low. The crude oil selloff pushed the energy sector into the red. Major oil producers including Shell (RDS.A) , Chevron (CVX) - Get Report , Total (TOT) - Get Report and BP (BP) - Get Report were among the worst performers on markets Wednesday. Twitter (TWTR) - Get Report spiked on renewed takeover speculation after co-founder Evan Williams told Bloomberg the social network was considering all options. Twitter had previously been mentioned as a potential target with some reports suggesting Alphabet's (GOOGL) - Get Report Google could be interested. Cybersecurity firm Infoblox (BLOX) jumped on reports it has begun the process of selling itself after receiving interest from private-equity firms. Activist investor Starboard Value had reportedly pushed for a sale. TheStreet's Keris Lahiff reports from Wall Street.