US stocks slipped in erratic trade on Wednesday as investors worried about the toll soaring oil prices are taking on the economy and corporate profits.
Shares of General Motors dropped more than 10 percent after Merrill Lynch said the automaker will need to raise $15 billion to shore up liquidity, adding bankruptcy is "not impossible" if the auto market continues to slump. Coal mining company shares, including Consol Energy sank, and were among the biggest sector drags on the S&P 500 as the price of coal fell.
The Dow Jones industrial average fell 7.09 points, or 0.06 percent, to 11,375.17, while the Standard & Poor's 500 Index slipped 2.42 points, or 0.19 percent, to 1,282.49. The Nasdaq Composite Index was down 17.64 points, or 0.77 percent, at 2,287.33.
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