U.S. stocks drop after Shanghai stumble

11:41 am ET Jun 4, 2007

DJIA

13,651

-16.17

S&P

1,535

-0.46

NASDAQ

2,611

-2.35

10Yr

4.94%

-0.021

U.S. stocks drop after Shanghai stumble

NEW YORK
U.S. stocks dropped on Monday, as investors took news of another
overnight stumble in the Shanghai stock market in stride, but cautiously
monitored rising bond yields, which challenged the appeal of risk-taking
in stocks.

Asia Markets: Shanghai tumbles 8.3% on concern about more cooling moves

HONG KONG
China's Shanghai Composite Index slumped 8.3% Monday as investors showed
concern that authorities might take further measures to cool what's been
a red-hot stock market, but other Asian indexes reached fresh records.

Palm Inc. to sell 25% stake, make $940 million distribution

LONDON
Palm Inc. agreed to sell a 25% stake to a private-equity group and said
it would distribute $940 million to investors who own stock in the
manufacturer of handheld device makers, the company said Monday.