Goldman Moves, Oil Spike Sink Stocks

The firm's downgrades of the brokerage sector and GM helped spark a 3% fall in the Dow. Crude's surge to all-time highs added to the gloom

Chalk up Thursday's bloodletting on Wall Street to a gloomy post-mortem on the previous day's Fed policy meeting. In the aftermath of the Fed's decision to hold rates steady and issue a warning on inflation, investors reassesed the condition of the economy and the prospects for the U.S. stocks. And they didn't like what they saw.

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