Wall Street largely brushed off a cooler-than-expected producer price index (PPI) reading for April, as Walt Disney (DIS) struggled after earnings and PacWest Bancorp (PACW) put the embattled banking sector back under scrutiny. The Dow fell over 221 points to mark a fourth-straight loss, while the S&P 500 settled slightly below breakeven as well. Meanwhile, the Nasdaq was higher to register its fourth gain in the last five sessions.

OIL PRICES FALL ON ENERGY DEMAND CONCERNS 

Oil prices fell on Thursday, as recession fears gripped investors and sparked concerns over energy demand. June-dated crude dropped $1.69, or 2.3%, to close at $70.87 per barrel.

Gold prices also settled lower, as the U.S. dollar gained strength and traders unpacked the latest inflation data. June-dated gold shed $6.60, or 0.8%, to close at $2,020.50 an ounce.

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