Business
U.S. markets slide on Friday
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes slipped in early afternoon trading Friday, as oil prices pushed upward, triggering inflation worries. Oil prices surged above $125-per-barrel barrier Friday. The Dow Jones industrial average dropped 113.49 points to 12,753.29, off 0.88 percent. The Standard and Poor's 500 index lost 11.47 points to 1,386.21, off 0.82 percent. The Nasdaq composite index lost 11.64 points to 2,439.60, off 0.51 percent. The 10-year U.S. Treasury note gained 10/32 to yield 3.747 percent. The euro traded at $1.5458 from Thursday's $1.5398, while the dollar traded at 102.94 yen from Thursday's 103.92 yen. In Tokyo, the Nikkei index dropped 287.92 points and closed the week at 13,655.34, off 2.06 percent. In London, the FTSE 100 index fell 66.10 to 6,204.70, off 1.05 percent. (UPI)
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