Stocks tumbled as oil prices spiked to nearly $100 a barrel. Tensions in the Middle East and North Africa will continue to cast a shadow on the market. Bernanke warned that a sustained rise in oil prices could pose a danger to economic growth. The Institute for Supply Management's manufacturing index rose for a 19th consecutive month, reaching 61.4% - a level last seen in May 2004. Investors are also looking ahead to the government's monthly payroll report on Friday, which will reveal how many jobs were created in February.
Wednesday, March 2, 2011
Trending lower
Stocks tumbled as oil prices spiked to nearly $100 a barrel. Tensions in the Middle East and North Africa will continue to cast a shadow on the market. Bernanke warned that a sustained rise in oil prices could pose a danger to economic growth. The Institute for Supply Management's manufacturing index rose for a 19th consecutive month, reaching 61.4% - a level last seen in May 2004. Investors are also looking ahead to the government's monthly payroll report on Friday, which will reveal how many jobs were created in February.
