Dow down 400 points, oil nears $140

NEW YORK (AP) -- Wall Street has plunged, with the Dow Jones industrials closing down more than 400 points, after oil prices shot higher and neared $140 for the first time.

The prospect of higher energy prices that could hobble consumers and worsen a slowing economy had investors frenetically pulling money out of stocks.

Wall Street began the day falling on a disappointing unemployment report. The price of oil, which rose more than $11 and traded as high as $139.12, sent stocks lower throughout the session.

The Dow is down about 405 at at the 12,200 level.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 19609374 - local8now.com/a?a=19609374