Tuesday, July 15, 2008

Major Indices Close Lower, Oil Slides

The Dow Jones industrial Average fell 93 points (0.8%) to close at 10962, the S&P 500 Index lost 13 points (1.1%) to 1215, and the Nasdaq Composite gained 3 points (0.1%) to 2216. Crude oil ended at $138.74 a barrel, down 4.4%, or $6.44, the biggest one-day drop in price for a front-month contract since January, 1991.

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