The Dow Jones industrial average fell 51 points in Wednesday trading to close at 16,280.

The S&P 500 fell four points to 1,939.

The Nasdaq fell four points to 4,753.

The LABJ Stock Index fell one point to 221.

Gainers and Losers

Private equity and debt giant Ares Management was Wednesday’s biggest local gainer among stocks trading above $1. Shares of the company rose 7 percent on the day, closing at $19.46.

Wednesday’s biggest loser was Westwood oil producer California Resources Corp. Shares fell 12 percent on the day, closing at $2.79. Oil prices also fell on the day.