US Oil Surplus Puts Dow Off 65

By Harry Kimball,  Newser Staff
Posted Jun 3, 2009 3:12 PM CDT
Traders work the floor of the New York Stock Exchange.   (AP Photo)
camera-icon View 2 more images

(Newser) – Reports of greater-than-expected US oil reserves sent crude prices and markets tumbling today, the Wall Street Journal notes. The manufacturing sector fell, and the Dow’s energy component was off 4.1%. “People are looking at the inventory report today as a really good chance to take some money off the table,” a broker said. The Dow was off 64.67 to 8,676.20. The S&P lost 12.92 to end at 931.82. And the Nasdaq shed 10.88 to 1,825.92. (Read more New York Stock Exchange stories.)