Markets Slide on Rising Crude, Interest Rate Jitters
U.S. stocks fell on Friday morning as concerns over global
interest rates, rising crude, and hedge-fund trouble linked to
subprime mortgages brought in sellers. The Nasdaq is leading
the major indices lower with a drop of 0.7%.
Crude oil futures for July delivery rose 0.7%
to $69.11 per barrel after a strike by Nigerian oil workers
started yesterday. Gold futures for August
delivery added 0.7% to $659.00 an ounce in early trading.
Around Asia, Shanghai’s Composite index fell 3.3% to close at
4,091.45, Hong Kong’s Hang Seng index rose 0.2% to 21,999.91, and
Tokyo’s Nikkei index fell 0.3% to 18,188.63.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com