U.S. stocks sharply off; Dow poised for worst close since 2006

Date: Thu, 26 Jun 2008 17:04:49 -0400
U.S. stocks sharply off; Dow poised for worst close since 2006

U.S. stocks fall sharply with the blue-chip index headed for its worst
close since September 2006, with equities slammed as crude oil soars to
new highs and Goldman Sachs Group downgrades U.S. brokers and advises
selling General Motors Corp.

Oil scores record gains as Fed decision weighs on dollar

Crude-oil futures climb to unprecedented levels as weakness in the U.S.
dollar, influenced by the U.S. Federal Reserve's decision to stand pat
on interest rates, sends prices to a peak above $140 a barrel.

Research In Motion shares fall on disappointing outlook

NEW YORK
Shares of Research In Motion slide more than 10% in early trading, a day
after the wireless device maker signaled that future earnings may come
under pressure as it ramps up spending to sustain its breakneck growth
rate.

Europe Markets: Worst Europe finish since Oct. 2005 as banks, dollar
weigh

Stocks in Europe ended Thursday at their worst closing levels in over
two-and-a-half years, with weak U.S. earnings outlooks, a plan by
Dutch-Belgian banking group Fortis to issue new shares and strength of
the euro all combining to weigh on markets.

General Motors shares slump after Goldman says sell

General Motors shares drop 11%, touching lows not seen since the early
1970s, after Goldman Sachs tells its clients to unload their positions
in the face of the deteriorating automotive climate.