Closing Bell: Verizon to Move Forward With Yahoo! Bid; U.S. Stocks Fall

Wall Street gave back all of Wednesday's stock rally, pulling lower alongside crude oil. All benchmark indexes were more than one percent lower, while West Texas Intermediate remained below $38 a barrel. Yahoo! (YHOO) briefly spiked on reports Verizon (VZ) - Get Report is moving forward with a bid for its core internet business. Alphabet's Google (GOOGL) - Get Report and Time Inc. (TIME) are still expressing interest. Wynn Resorts (WYNN) - Get Report surged after touting a promising outlook for its newest development in Macau, set to open in June. The casino operator also announced plans to convert its Las Vegas Golf Club into a resort with up to 1,000 hotel rooms. CarMax (KMX) - Get Report slid after profit fell 1.5 percent in its fourth quarter as it faced weaker demand for used cars.