Market Pares Losses As Oil Jumps

Major indexes had fallen 2 percent earlier in session.

U.S. stocks pared losses on Wednesday as a more than 6 percent rise in crude oil futures sparked a rise of shares in the energy sector.

* Major indexes had fallen 2 percent earlier in session.

* The S&P energy index rose 1 percent.

* The Dow Jones industrial average dropped 55.20 points, or 0.75 percent, to 7,295.74. The Standard & Poor's 500 Index fell 5.95 points, or 0.77 percent, to 767.19. The Nasdaq Composite Index slipped 14.29 points, or 0.99 percent, to 1,427.54.