Summary Box: Commodities slump halts stocks

AP News
Posted: May 11, 2011 5:14 PM
Summary Box: Commodities slump halts stocks

OIL DROPS: Oil and gasoline prices both fell more than 4 percent after a report showed that Americans are conserving money and driving less because of high gas prices. Stocks fell in part because of concerns that consumers could cut back in other areas as well, sending corporate earnings lower.

EURO DIP: The euro fell 1.5 percent against the dollar due to the fall in commodities and austerity protests in Greece.

THE INDEXES: The Dow Jones industrial average lost 130.33 points to close at 12,630.03. The S&P 500 index fell 15.08 to 1,342.08. The Nasdaq lost 26.83 to 2,845.06.