2006-07-12

stocks tumble on energy, inflation worries

Dow Down More Than 100 Points: Financial News - Yahoo! Finance
Stocks' losses steepened Wednesday afternoon as investors sold off following a drop in oil inventories that raised Wall Street's concerns about higher oil prices and rising inflation. ... "Energy is in the back of people's minds," said Sam Stovall, chief investment strategist, U.S. equity research, Standard & Poor's.  ...The Energy Department reported that oil inventories dropped by a larger-than-expected amount last week. The news sent crude oil futures up 39 cents a barrel to $74.55 on the New York Mercantile Exchange.

i posted on this topic just yesterday (whistling in the fiscal graveyard). investors know that things are shaky right now.



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