Business Services Industry
Dow Jones falls below 10,000.
Knight Ridder/Tribune Business News, September, 2004
By Ick Babson, The Kansas City Star, Mo. Knight Ridder/Tribune Business News
Sep. 28--As crude oil prices flirted with $50 a barrel Monday, the markets posted moderate losses that pushed the Dow Jones average below 10,000.
After reaching an intraday trading record of $49.75 earlier in the session, oil for November delivery closed at $49.64, up 76 cents, on the New York Mercantile Exchange.
"Clearly we've had oil putting a lot of pressure on this market over the past week or so, but given where oil is right now, we would've expected the market to react even more negatively than where it is," said Brian Belski, market strategist at Piper Jaffray.
The Dow Jones industrial average fell 58.70, or 0.6 percent, to 9,988.54. It was...
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