Wall Street extends losses as oil surges

22/04/2008 - 17:07

NEW YORK (Reuters) - Stocks extended losses on Tuesday as U.S. crude oil prices surged to a record above $119 a barrel, compounding fears about the toll of higher energy costs on the economy, company profits and household spending.

The Dow Jones industrial average dropped 113.10 points, or 0.88 percent, to 12,711.92. The Standard & Poor's 500 Index slid 12.54 points, or 0.90 percent, to 1,375.63. The Nasdaq Composite Index tumbled 28.96 points, or 1.20 percent, to 2,379.08.

(Reporting by Ellis Mnyandu; Editing by James Dalgleish)

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