U.S. stocks declined on Wednesday after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter of last year. The Standard & Poor's logged its biggest decline of the year, after rallying close to a record.

The Dow Jones industrial average closed down 44 points, or 0.3 percent, at 13,910.42.

The S&P 500 fell 5.88, or 0.39 percent, to 1,501.96.

The Nasdaq composite index fell 11.35, or 0.36 percent, to 3,142.31

For the week:

The Dow is up 14.44 points, or 0.1 percent.

The S&P 500 is down 1, or 0.07 percent.

The Nasdaq is down 7.4, or 0.24 percent.

For the year:

The Dow is up 806.28 points, or 6.2 percent.

The S&P 500 is up 75.77, or 5.3 percent.

The Nasdaq is up 122.88, or 4.1 percent.