Stocks tumble as oil falls on economic worries

Published: Monday, Jan. 12, 2009 2:21 p.m. MST
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NEW YORK (AP) — Wall Street has extended last week's slide on worries that the quarterly results companies begin releasing this week will signal the economy is in worse shape than feared.

Oil prices have tumbled 8 percent Monday to a new low for the year as investors have bet economic weakness will curb demand. That assessment is reinforcing fears that a slowing economy will further erode corporate profits.

The Dow Jones industrial average is ending down 125, or 1.5 percent, at the 8,474 level. Broader indexes fell more than 2 percent.

Recent comments

If the oil prices and the stock prices are going down, Why are the...

Lost in Utah | Jan. 12, 2009 at 2:30 p.m.

4 more years!!!!

Thank you Bush | Jan. 12, 2009 at 2:24 p.m.

latest update at 2:21... oil prices fall... no story... just a byline?

um story? | Jan. 12, 2009 at 2:17 p.m.

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