U.S. stocks end broadly lower as crude oil closes at new high

Date: Wed, 07 May 2008 17:03:22 -0400
U.S. stocks end broadly lower as crude oil closes at new high

Stock finish broadly lower as crude-oil prices above $123 a barrel
alarmed investors already worried about the impact on consumers as well
as the overall economy.

Futures Movers: Oil ends atop $123, up almost 10% in four sessions

Crude-oil futures climb above $123 a barrel to close at their loftiest
level ever as continuing global production concerns and a decline in
U.S. refinery capacity help outweigh pressure from a third week of
rising U.S. crude supplies.

In WiMax group, Google taps another untested path to wireless

Google Inc.'s backing of Sprint Nextel's WiMax project taps yet another
route to ensure itself a prominent place in the mobile-Internet
marketplace.

Special Report: Fed rate cuts helped boost food prices, spark shortages

The Federal Reserve's seven interest rate cuts in as many months, which
helped protect the U.S. economy from the full effects of the housing
crisis and the resulting credit crunch, also contributed to the spike in
raw material costs that has been felt across the globe, experts say.