Stocks fall as data show drag of higher oil

[nadinbrzezinski]

Stocks fall as data show drag of higher oil
Tuesday June 17, 3:41 pm ET
By Madlen Read, AP Business Writer
Stocks decline as Wall Street laments higher oil, worrisome outlook for banks

NEW YORK (AP) -- Stocks declined Tuesday as a worrisome reading on wholesale inflation underscored the drag of elevated energy prices on the economy.
A brief jump in crude oil only added to investors' inflation worries. While crude fell to about $134 a barrel on the New York Mercantile Exchange, it remains near record levels. Wall Street is worried that the high cost of energy, which affects almost all other costs, is going to prove too much for already strapped U.S. consumers.

http://biz.yahoo.com/ap/080617/wall_street.html

By the way folks, how long until we cross the 12K again, and for the Feds to ahem ACT to keep this propped?

[nadinbrzezinski]

1. kick