- NEW YORK (Reuters) - Stocks
declined for a third day on Monday as a defiant Iraqi parliament and President
Bush vowed to use the full force of the U.S. military, darkening Wall Street's
mood after a month-long rally.
-
- Oil prices rose as Bush marked the U.S. Veterans Day,
saying the United States will lead a coalition to disarm Iraqi President
Saddam Hussein if Iraq doesn't abide by United Nations sanctions.
-
- "The parliamentary chairman in Iraq said U.N. conditions
would be tough to meet so a pall is being cast over the market," said
Peter Boockvar, equity strategist at Miller Tabak & Co.
-
- The departure of President Michael Capellas from technology
giant Hewlett-Packard Co. HPQ.N also pushed stocks lower.
-
- The technology-laden Nasdaq Composite index .IXIC dropped
40 points, or 2.95 percent, to 1,319.14, based on the latest available
figures. The blue-chip Dow Jones industrial average .DJI slumped 178 points,
or 2.09 percent, to 8,358.95. The broad Standard & Poor's 500 index
.SPX lost 18 points, or 2.07 percent, to 876.18.
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