NEW YORK (AP) - Wall Street has turned cautious, pulling back
after a two-day rally as downbeat corporate news reminded investors
that the economy's troubles won't soon ease.
A bleak forecast from FedEx Corp. weighed on stocks. The company
is considered a barometer of the health of the U.S. economy.
Meanwhile, demand for the safety of government debt has spiked
so high that investors were willing to earn no interest on their
investments at a Treasury Department auction.
The unease has left the Dow Jones industrials down 242 at 8,691
level. All the major indexes are down well over 1 percent.
(Copyright 2008 by The Associated Press. All Rights Reserved.)