Negative Day On Wall Street: Acadiana Business Index
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 Dow Jones Industrial Average fell 247 points to 11,397.
- 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.