oil climbs above $49 - weigh global supply threats, page-4

oil climbs to $50.25 - weigh global supply threats
US Dollar getting smashed !!

"Checking other markets, the euro hit a record high at $1.3105."


Headlines..

*Wall Street slides as crude climbs - Technology under pressure after chip downgrades*

By Susan Lerner, CBS.MarketWatch.com - Last Update: 11:29 AM ET Nov. 23, 2004

NEW YORK (CBS.MW) - U.S. stocks slid to session lows late Tuesday morning as a crude-oil prices topped $50 a barrel and weakness in technology after yet another downgrade for chip giant Intel weighed on sentiment.

The Dow Jones Industrial Average ($INDU: news, chart, profile) was last down 44 points, 0.5 percent, to 10,444 while the Nasdaq Composite Index ($COMPQ: news, chart, profile) dropped 14 points, or 0.7 percent, to 2,070 and the S&P 500 ($SPX: news, chart, profile) lost 5 points, or 0.4 percent, to 1,172.

Stocks took a turn for the worse as crude futures spiked past the $50 a barrel level for the first time since Nov. 4. The January contract was last up $1.31 at $49.95 on the New York Mercantile Exchange, after touching a high of $50.25.



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