Markets turned negative after a German representative said Europe's leaders would be unable to address every sovereign-debt problem at a euro-zone summit on Sunday.

 

 
 
  • The Federal Reserve’s survey of New York manufacturing activity in October contracted for the fifth consecutive month.
 
  • A merger proposal to create North America's largest natural-gas pipeline network failed to spur much stock-market optimism. Kinder Morgan will acquire El Paso in a deal valued at $21.1 billion. Kinder Morgan rose 4.8%, to $28.19. EP up 24.8%
 
  • Halliburton lost 7.9%, to $34.48, amid predictions that the company could face more pressure to come to terms with BP.  The company reported better-than-expected third-quarter earnings and revenue.
 
  • Crude oil closed at $86.38 a barrel.
 
  • And Gold settled at $1,678 an ounce.