The markets tumbled at the onset with the Dow losing 149 points to 12,878 while Nasdaq lost 20 points to 2495. Investors worried about inflation as the price of oil edged toward the $130 a barrel mark.
On the upside
Futures and options broker MF Global (NYSE: MF) reported a loss which was blamed on a rogue trader and a decline in interest income.
On the downside
In the broad market, declining issues outpaced advancers by a margin
of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell
2000 which tracks small cap stocks lost 3 points to 735.