NEW YORK: US stocks tumbled on Friday as investors were jolted by a surge in oil prices and comments by Federal Reserve Chairman Alan Greenspan, who gave a stark reminder that interest rates were bound to go higher and warned that appetite for the dollar would dwindle.
Crude oil reversed some of its recent slide and leapt on jitters over fuel supplies, with Nymex December crude ending up US$2.22 at US$48.44 a barrel.
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