Author: 123jump.com Staff
123jump.com
Last Update: 10:55 AM EST December 17 2007
U.S. stocks fell on the weakness in financial and real estate stocks and new worries that economic slow-down and rising inflation may crimp profit outlook for the companies. Three large deals failed to excite investors. Ingersoll-Rand agreed to purchase Trane for $10.1 billion, Related Cos received $1.4 billion in debt capital injection, and National Oilwell Varco agreed to purchase Grant Prideco for $7.5 billion. Asian markets closed lower and European markets are down more than 1.5%.
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