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Stocks fell sharply as oil's resurgence fanned inflation fears and a downgrade on Alcoa dragged on the Dow. Oil jumped about $6.
Stocks opened lower as oil's resurgence fanned inflation fears and a downgrade on Alcoa dragged on the Dow. Oil jumped nearly $3, topping $134 a barrel.
Wall Street looked set to open slightly higher on Wednesday, but the energy market could again hijack the stock market with U.S. inventory data arriving later in the morning.
Why trying to solve both problems at the same time could lead to disaster.
The Dow recovered some of its losses from last Friday as oil dropped more than $4 Monday.
Not surprisingly, market technicians who were bullish two weeks ago are in a state of despair. Talk about minor support at 1,350 for the S&P 500 is half-hearted at best; the truth is that other than the March closing bottom of 1,273 there is no one willing to draw many lines in the sand here.
Some may point to how RBS has stronger risk management than rivals, but the problem for many shareholders is the lack of oversight over CEO Fred Goodwin.
The Dow plunged more than 400 points as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.
Stocks plunged as the sharpest jump in the unemployment rate in more than 20 years and rocketing oil prices sparked concerns about stagflation. Oil jumped more than $11 a barrel to close at a record $138.54.. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Stocks plunged after the sharpest jump in the unemployment rate in more than 20 years and news that wholesale inventories ballooned. Oil jumped $6 a barrel. Chevron was the lone star on the Dow. Nat Semi jumped -- a rare feat on this landslide day -- after the chip maker posted better-than-expected earnings.
Stocks opened lower after the May jobs report showed a sharp jump in the unemployment rate. Oil eclipsed $130 a barrel.
Under pressure from the authorities, UBS is considering whether to divulge the names of up to 20,000 of its well-heeled American clients, the NYT reports.
What are the options trades in Lehman Bros. stock saying about the brokerage's future?
Home prices in New York's Manhattan, which have been largely unscathed by the housing slump may start to come down as the credit crunch comes back to bite Wall Street bankers.
Lehman has slashed its risky debt holdings by as much as 25% and raised $8 billion in capital this year to shore up its balance sheet, according to an internal memo obtained by CNBC
Lehman shares rebounded sharply on news that a big bond fund manager is buying the firm's debt and some positive comments from other Wall Street firms.
Cash-strapped Americans are ringing up more purchases on their credit and debit cards, but there could be a steep price to pay ahead.
Top officials at BlackRock say the big investment management firm continues explore major investments in distressed assets--such as its recent purchase of $15 billion in mortgage securities from UBS--but the company is becoming more selective in recent weeks about where to place its bets, CNBC has learned.
We are down three out of four days and the uptrend that began with the March bottom has now been broken. Many financials like Lehman are already sitting at or near their March lows.
European shares ended lower on Monday, led by Swiss bank UBS on concerns about further asset writedowns.