Author: 123jump.com Staff
123jump.com
Last Update: 4:42 PM EDT May 20 2008


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U.S. stocks turned lower after April wholesale inflation rose. The rise in inflation put investors on the defensive. Crude oil price surged above $129 a barrel after comments from oil complex investor T Boone Pickens. His comments suggested that the crude oil price may reach higher than $150 a barrel. European markets closed sharply lower led by 2.4% fall in the UK and Sweden. Brazil and Mexico trade lower.