Roiling Stocks Gather More Losses

Turning to economic forecasts, the Bank of England predicted a decline in Britain's inflation to below 2% next year, but also said that inflation could decline yet further on an economic downturn.

Looking at commodities, crude oil declined $3.17 to settle at $56.16 a barrel, as the International Energy Agency predicted global energy demand would rise 1.6% annually between 2006 and 2030 and called for new investments to avert a supply shortage. Gold was down $14.50 to close at $718.30 an ounce.

Longer-dated U.S. Treasury securities were rising in price. The 10-year was up 25/32 to yield 3.65%, and the 30-year was up 9/32, yielding 4.18%. The dollar was higher vs. the pound but losing ground against the yen and euro.

Overseas, European exchanges, such as the FTSE in London and the DAX in Frankfurt, were trading lower. As for Asian markets, Japan's Nikkei and Hong Kong's Hang Seng closed on the downside.