Business
U.S. markets stumble in 19th week
New York | May 10, 2008 12:01:13 AM IST
U.S. stock indexes chugged close to the break-even point for the year through 18 weeks, then stalled, the Dow index falling 2.4 percent through the 19th week. Oil prices, surging 4 percent on the week, triggered inflation worries as prices climbed to a record $126.06 per barrel on the New York Mercantile Exchange Friday. The Dow Jones industrial average fell 120.90 points Friday to 12,745.88, off 0.94 percent. The Standard and Poor's 500 index lost 9.40 points to 1,388.28, off 0.67 percent. The Nasdaq composite index lost 5.72 points to 2,445.52, off 0.23 percent. On the New York Stock Exchange, 1,432 stocks advanced and 1,639 declined on a volume of 1.09 billion shares traded. The 10-year U.S. Treasury note gained 3/32 to yield 3.773 percent. The euro traded at $1.5475 from Thursday's $1.5398, while the dollar traded at 102.90 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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