White House Press Secretary Tony Snow, left, and White House Counselor Dan Barlett, ride in a military helicopter wearing helmets and flak jackets for a trip from Baghdad International Airport to U.S. Embassy in the Greenzone Tuesday, June 13, 2006 in Baghdad, Iraq. Snow and Bartlett traveled with President Bush who made a surprise visit to Baghdad. (AP Photo/Pablo Martinez Monsivais)
And how great is the economy?
Dow off for year
NEW YORK (Reuters) - Stocks tumbled in volatile trading on Tuesday, with the Dow erasing its gains for the year, as higher-than-expected inflation data stoked interest rate worries.
Investors sold off shares of interest-rate sensitive financial stocks, like Citigroup Inc. (NYSE:C - news) and JPMorgan Chase & Co. (NYSE:JPM - news). Shares of energy stocks like Exxon Mobil Corp. (NYSE:XOM - news) also slumped as crude futures finished $2 a barrel lower on forecasts that Wednesday's U.S. inventory data will show another increase in fuel supplies.
Markets also felt pressure from a global equities sell-off.