Bears Roar Into Finish; Dow Closes Below 8000
Among technology stocks, Microsoft (MSFT) CEO Steve Ballmer said he is no longer considering an acquisition of Yahoo! (YHOO), 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 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.
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