NEW YORK — Stocks are falling as crude oil prices trade near two-year highs.
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Crude oil prices traded above $105 a barrel in the morning then dropped after a report showed U.S. crude oil supplies were rising.
The conflict in Libya has raised concerns about a drop in oil production, causing a surge in crude prices.
Stocks swung between gains and losses. IBM Corp. rose 2.8 percent to lead the Dow Jones industrial average.
The Dow is down 9 points, or 0.1 percent, at 12,204. The S&P 500 index is down 3, or 0.2 percent, at 1,317. The Nasdaq is down 15, or 0.5 percent, at 2,750.
Wednesday marks the two-year anniversary of the stock market’s recent rally. Stocks hit 12-year lows on March 9, 2009 and have nearly doubled since then.
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