		<div class="wpcnt">
			<div class="wpa">
				<span class="wpa-about">Advertisements</span>
				<div class="u top_amp">
							<amp-ad width="300" height="265"
		 type="pubmine"
		 data-siteid="111265417"
		 data-section="2">
		</amp-ad>
				</div>
			</div>
		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/03/oil-price-rise-dents-us-stocks.jpg"><img class="alignnone size-full" title="The Dow Jones industrials fell 88.32 points to close at 12,169.88" src="http://londonglossy.com/wp-content/uploads/2011/03/min-oil-price-rise-dents-us-stocks.jpg" alt="The Dow Jones industrials fell 88.32 points to close at 12,169.88"/></a></p>
<p>Stocks have dropped after another spike in oil prices overshadowed a report that the US unemployment rate fell to its lowest level in nearly two years.</p>
<p>Crude oil rose 2.5% to more than 104 dollars (£64) a barrel, its highest level since September 2008, after fighting in Libya escalated.</p>
<p>Markets have been rattled over the past two weeks as higher oil prices threaten to undermine the economic recovery by increasing transportation and production costs.</p>
<p>Higher energy prices sent stocks lower despite news that the US job market is improving. The Labour Department reported that unemployment rate dipped to 8.9% in February from 9% the previous month.</p>
<p>The rate has dropped for three months in a row and is now at its lowest level since April 2009. Employers added 192,000 jobs in February, the fastest increase in almost a year.</p>
<p>The Dow Jones industrial average dropped 88.32 points, or 0.7%, to 12,169.88. The Dow had been down as many as 178 points earlier. The Standard &#038; Poor&#8217;s 500 index fell 9.82, or 0.7%, to 1,321.15. The Nasdaq composite index fell 14.07, or 0.5 percent, to 2,784.67.</p>
<p>All 10 company groups that make up the S&#038;P index fell. Financial companies fell 1.3%, the largest drop. Citigroup Inc. fell 3% and Goldman Sachs Group fell 2.1% after Bank of America analysts trimmed their earnings forecasts for the two banks.</p>
<p>Analysts noted that they expect the turmoil in the Middle East will make institutional investors more cautious with their cash, leading to a drop in trading revenues.</p>
<p>Each index saw small gains for the week after falling the week before. The Dow had the largest move, inching up 0.3%.</p>
<p>Bond prices rose, sending their yields lower. The yield on the 10-year Treasury note fell to 3.50% from 3.56% late on Thursday. Two stocks fell for every one that rose on the New York Stock Exchange. Volume came to one billion shares.</p>
			<div style="padding-bottom:15px;" class="wordads-tag" data-slot-type="belowpost">
				<div id="atatags-dynamic-belowpost-69e3802d209d7">
					<script type="text/javascript">
						window.getAdSnippetCallback = function () {
							if ( false === ( window.isWatlV1 ?? false ) ) {
								// Use Aditude scripts.
								window.tudeMappings = window.tudeMappings || [];
								window.tudeMappings.push( {
									divId: 'atatags-dynamic-belowpost-69e3802d209d7',
									format: 'belowpost',
								} );
							}
						}

						if ( document.readyState === 'loading' ) {
							document.addEventListener( 'DOMContentLoaded', window.getAdSnippetCallback );
						} else {
							window.getAdSnippetCallback();
						}
					</script>
				</div>
			</div>
Discover more from London Glossy Post
Subscribe to get the latest posts sent to your email.
