Oracle results and Cyprus uncertainty drags on Dow

US stocks closed lower on Wall Street last night after Oracle’s weak sales results weighed down big US technology companies.

Traders also worried about Cyprus running out of time to avoid bankruptcy.

Major indexes followed European markets lower at the open and remained solidly negative yesterday.

The Dow dropped 90.24 points, or 0.6%, to 14,421.49.

The S&P 500 closed down 12.91 points, or 0.8%, at 1,545.80.