Monday May 5, 11:33 PM
US STOCKS-Market falls on $120 oil, Countrywide concern
NEW YORK, May 5 (Reuters) - U.S. stocks fell on Monday
after crude oil briefly topped $120 a barrel, suggesting major
headwinds for the U.S. economy, while a brokerage report
questioning Bank of America's buyout of Countrywide
Financial Corp added to concern about the credit
crisis.
The Dow Jones industrial average was down 95.75
points, or 0.73 percent, at 12,962.45. The Standard & Poor's
500 Index was down 7.08 points, or 0.50 percent, at
1,406.82. The Nasdaq Composite Index was down 9.63
points, or 0.39 percent, at 2,467.36.
(Reporting by Jennifer Coogan; Editing by Kenneth Barry)
|
