U.S. stocks closed lower Tuesday as equities tracked the price of oil and pondered the impact of lower energy costs and Russia's economic troubles. In U.S. economic news, new-home construction topped a million on an annualized rate in November, while housing starts fell 1.6 percent and building permits declined 5.2 percent last month. An industry report had the U.S. manufacturing sector continuing to expand in December but its growth rate at an 11-year low. The dollar declined against the currencies of major U.S. trading partners, while gold futures lost $13.40 to $1,194.30 an ounce. The Dow Jones industrial average dropped 111.97, or 0.65 percent, to 17,068.87. The broader Standard & Poor's 500 index fell 16.88, or 0.85 percent, to 1,972.75. The technology-heavy Nasdaq composite index declined 57.32, or 1.24 percent, to 4,547.83.
