![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Wednesday, May 21, 2008 2:13:21 PM
2 minutes ago
By MADLEN READ
AP Business Writer
(AP:NEW YORK) Wall Street is down sharply, smarting from record high oil prices and a bleak economic assessment from the Federal Reserve.
Stocks fell in early trading in response to oil that now costs more than $132 a barrel on the futures market. They took a further dive after the minutes of last month's Fed meeting said policymakers expected sharply lower economic growth, higher unemployment and higher inflation. And, the Fed indicated it was unlikely to keep cutting interest rates.
The Dow Jones industrial average is down about 132 points at the 12,696 level.
FEATURED Mawson Finland Provides Update on Exploration Activities at Rajapalot • Aug 21, 2024 9:06 AM
Unitronix Announces Strategic Entry into Cryptocurrency Space • UTRX • Aug 21, 2024 10:00 AM
Avant Technologies to Implement Robust Cybersecurity Measures for AI-Driven Healthcare Solutions • AVAI • Aug 21, 2024 8:00 AM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM