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Stocks Finish Lower Amid Lingering Economic Fears

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Dec 18, 2008 6:45 pm US/Central

Stocks Finish Lower Amid Lingering Economic Fears

 Timeline: U.S. Credit Crunch & Financial Failures

 View Market Summaries & Leading Stock Changes
NEW YORK (AP) ― Stocks have finished sharply lower as investors' concerns about the economy intensified after a major credit ratings agency lowered its outlook on the financial and industrial powerhouse General Electric Co.

Stocks had moved within a narrow trading range for much of the session, as investors sifted through a number of varying signs about the economy, including more layoffs and dismal earnings forecasts.

But Wall Street retreated in late trading as a negative outlook from Standard & Poor's on GE added further pressure on the market.

Oil prices falling below $37 a barrel also rattled investors and sent energy stocks lower.

At the close, the Dow Jones industrial average is down about 221 points to the 8,603 level.


(© 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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