Wall Street set to open lower as U.S. crude slips

U.S. crude fell more than 1 percent after a report from the American Petroleum Institute (API) showed that inventories rose by 9.9 million barrels last week, way above estimates. Wall Street closed sharply higher on Tuesday, led by financial and technology stocks, after data suggested the world's biggest economy was regaining momentum. "The market got severely overbought yesterday," said Jeffrey Saut, chief investment strategist at Raymond James Financial in Florida.