Dow Drops 186 Points
U.S. stocks moved sharply lower to end the week. Concerns over global
interest rates, rising crude, and hedge-fund trouble linked to subprime
mortgages troubled investors. The Dow gave up 186 points in
today’s session.
Crude oil futures for July delivery rose 0.7%
to $69.14 per barrel after a strike by Nigerian oil workers
started yesterday. Gold futures for August delivery added 0.7% to
$659.00 an ounce.
Around Europe, Germany’s DAX index fell 0.2% to close at 7,949.63,
France’s CAC 40 fell 0.1% to 6,023.25, and Britain’s FTSE 100
dropped 0.4% to 6,567.40.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com