US stocks fell on Wednesday as crude oil futures set an all-time high and General Motors Corp warned that its 2005 earnings will be as much as 80 percent below its prior forecast. In another setback for stocks, the US current account deficit came in worse than expected, raising interest rate worries.
In the broad sell-off, software giant Microsoft fell 0.8 percent to $24.72 and coffee shop chain Starbucks Corp was down 2.3 percent at $52.11.
The Dow Jones industrial average was down 82.31 points, or 0.77 percent, at 10,662.79. The Standard & Poor's 500 Index was down 7.32 points, or 0.61 percent, at 1,190.43. The technology-laced Nasdaq Composite Index was down 11.39 points, or 0.56 percent, at 2,023.59.
Comments
Comments are closed.