Summary Box: Stocks give up gains after shares of BP slide on concerns about Gulf spill costs
By APWednesday, June 9, 2010
Summary Box: Slide in energy stocks spoils rally
ENERGY DROP: A slide in shares of BP on concern about the costs of the Gulf of Mexico oil spill pounded energy stocks and dragged the market lower. BP fell 15.8 percent to a 14-year low.
DOW REVERSAL: The Dow Jones industrials gave up a 125-point gain to close down 41. It was the third time in four days that a slide accelerated in the last hour.
EURO WATCH: Pressure on stocks grew after the euro fell below $1.20, a psychological barrier for traders. The moves in the currency are seen as a sign of confidence in whether Europe can contain its problems with high debt.
YOUR VIEW POINT
