 |
|
Traders work on the floor of the New
York Stock Exchange, October 19, 2007. U.S. stocks sank Friday as worries
about more problems in the bank sector, slower corporate earnings growth,
the weak dollar, and record-high oil prices all came to a
head.(Xinhua/Reuters Photo)
Photo Gallery>>> |
NEW YORK, Oct. 19 (Xinhua) -- U.S. stocks sank Friday
as worries about more problems in the bank sector, slower corporate earnings
growth, the weak dollar, and record-high oil prices all came to a head.
The Dow Jones Industrial Average
declined 366.94 points to 13,522.02, with the Dow on track for a weekly fallback
of 3.5 percent, its worst point and percentage drop since the week ended July
27.
 |
|
Traders work on the floor of the New
York Stock Exchange, October 19, 2007.(Xinhua/Reuters Photo)
Photo
Gallery>>> |
The S&P 500 slipped 39.45 points to 1,500.63,
while the Nasdaq Composite fell 74.15 points to 2,725.16.
On Oct. 19, 1987, the Dow fell 22.6 percent in a
single day.
The decline Friday left the blue-chip indicator at
its lowest point since Sept. 17, the day before the Federal Reserve cut interest
rates for the first time in four years.
Oil surges to new record of
$89.47
NEW YORK, Oct. 18 (Xinhua) -- Oil prices surged to a
record 89.47 dollars on Thursday as the falling dollar drew new foreign
investors and speculators to dollar-denominated energy futures. Full story
OPEC revises forecast for world crude
oil demand
VIENNA, Oct. 15 (Xinhua) -- The Organization of Petroleum
Exporting Countries (OPEC) slightly revised its forecast for crude oil world
demand in 2007 and 2008 in its latest monthly international oil market report,
issued here Monday. Full story
U.S. stocks fall on Bernanke comments
on housing
NEW YORK, Oct. 16 (Xinhua) -- U.S.
stocks fell for a second straight session Tuesday after Federal Reserve Chairman
Ben Bernanke said the slumping housing market remains a "significant drag" on
the economy. Full story
U.S. crude oil inventories up,
gasoline stocks down
WASHINGTON, Oct. 3 (Xinhua) -- U.S.
commercial crude oil inventories increased unexpectedly last week while supplies
of gasoline and distillates declined, the Energy Department reported Wednesday
in its weekly inventory survey. Full story
