U.S. stocks sink as data signal rise in inflation

Date: Wed, 20 Feb 2008 17:01:04 (GMT)
U.S. stocks sink as data signal rise in inflation

U.S. stocks plunge after consumer prices climb more than analysts had
expected, heightening worries that rising inflation could restrict
future interest-rate cuts by the Federal Reserve.

Economic Report: U.S. retail-level inflation runs hotter than expected
in January

Inflation remained hot in January, led by large increases in energy and
food prices, but also in a host of underlying core prices, the
government said.
Futures Movers: Crude futures slip 1%, back below $100 a barrel

Crude-oil futures fall 1%, giving up some of their strong gains from the
previous session when the key energy contract closed above $100 a barrel
for the first time.

Sale of 3Com to Bain, Huawei stymied over security concerns

WASHINGTON
Concerns about national security could scuttle the $2.2 billion sale of
networker 3Com Corp. to a U.S. private-equity firm and its Chinese
partner.

Hewlett-Packard shares jump on results, raised outlook

Shares of Hewlett-Packard Co. jump as much as 7% after posting strong
results for its first fiscal quarter and raising its forecast for the
year.