Stocks Stall, Finish Mixed

Investors are cautious ahead of Fed meeting
By Sam Gale Rosen,  Newser Staff
Posted Jun 23, 2008 3:30 PM CDT
Stocks Stall, Finish Mixed
Stock trader Michael Gagliano, with Bank of America, watches his screens at the New York Stock Exchange on Monday, June 23, 2008 in New York.   (AP Photo/Mark Lennihan)

Markets ended mixed today, burdened by high oil prices and shaky financials. "It's been a terrible market. It definitely looks like we're going to re-test the lows all this week," an economist tells the Wall Street Journal. The Dow ended down 0.33 at 11,842.36, the Nasdaq down 20.35 at 2,385.74, and the S&P 500 up 0.07 at 1,318.00.

Investors were cautious ahead of the possibility that the 2-day Fed meeting that starts tomorrow will result in higher interest rates. Just under 1.1 billion shares changed hands, the slowest trading day in over a month. The Dow was hit by a 7% plunge by General Motors shares, and oil prices walloped other automakers as well as airline shares. (More oil prices stories.)

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