Among technology stocks,
(MSFT - Get Report)
CEO Steve Ballmer said he is no longer considering an acquisition of
(YHOO - Get Report)
, although he remains open to a
collaboration on search
. Yahoo! head Jerry Yang, who had been an opponent of a merger between the two companies, said on Tuesday that he would be leaving the CEO spot. Microsoft gave back 6.8% to $18.29, and Yahoo! shares slumped 21% to $9.14.
In earnings news, bulk retailer
reported rising third-quarter profit that was aided by gasoline sales. Shares slipped 0.5% to $33.42.
, Goldman Sachs put BlackBerry maker
Research In Motion
on its conviction buy list. RIM shares dropped 4.1% to $45.33.
In the realm of commodities, crude oil fell 77 cents to settle at $53.62 a barrel. The Energy Department said crude inventories climbed by 1.6 million barrels for the week ended Nov. 14, whereas economists were expecting a rise of 800,000 barrels. Gold added $3.30 to close at $736 an ounce.
Longer-dated U.S. Treasury securities were soaring in price. The 10-year note was up 1-14/32 to yield 3.36%, and the 30-year was rocketing 3-1/32, yielding 3.95%. The dollar was retreating vs. the euro, yen and pound.
Overseas, the FTSE in London and the DAX in Frankfurt were both trading lower. In
, Japan's Nikkei and Hong Kong's Hang Seng closed with losses.