Stock Market Recap: Yahoo Sinks after Microsoft Walks Away from Bid
Stocks closed down across the board led by the DJIA giving back -88.66 or .80%, S&P500 fell -12.86 or .60% and the NASDAQ lost -6.41 or .59%. It was a volatile session across asset classes with metals accelerating on the upside on power rationing and Oil hitting an all time intraday high.
Yahoo
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Countrywide Financial
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PowerRating) collapsed another 9.54% to 5.410 on analyst comments that Bank of America
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Sprint
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PowerRating) surged over 10% today to 8.72 on rumors of its money losing unit Nextel being spun off. Nextel was acquired in 2005 for about $35 billion.
Oil climbed above 120.00/barrel for the first time in history today, settling at 119.97. This is an increase of 3.1% or $3.65 on supply/ demand concerns.
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