U.S. stocks slide as oil rises; Dow ends at three-month low

Date: Wed, 18 Jun 2008 17:04:53 -0400

U.S. stocks slide as oil rises; Dow ends at three-month low

U.S. stocks drop, with the Dow sliding to three-month lows, as economic
bellwether FedEx Corp. delivers disappointing results and Fifth Third
Bancorp trims its dividend, highlighting rising energy prices and the
ongoing credit crisis. .

FDIC chief Bair calls for more investment-bank oversight

The head of the Federal Deposit Insurance Corp. sees a greater need for
regulatory oversight of investment banks. .

GAO backs Boeing's protest over Air Force tanker award

The government backs Boeing's protest against the U.S. Air Force award
of a $35 billion contract to Northrop Grumman to begin replacing its
Eisenhower-era Stratotankers.

FedEx swings to fourth-quarter loss on charge, fuel, economy

FedEx swings to a loss from a year-earlier profit, reflecting a $696
million after-tax asset-impairment charge tied to the acquisition of
Kinko's, a surge in fuel prices and a weak U.S. economy.

Financial Stocks: Fifth Third dives on capital raise; bank sector closes
lower

U.S. financial stocks lose more ground as investors fretted over news of
regional bank Fifth Third Bancorp's bid to raise $2 billion while Morgan
Stanley posted a 60% drop in its quarterly profit.