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U.S. Stocks Drop, Led by Energy; AIG Plunges



By Paul Barnett
09 May 2008 @ 02:09 pm EST



The New York Stock Exchange.
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FCX 89.32 -1.31
XOM 80.01 -1.17
CC 1.8 0.06
AIG 21.49 -0.02

SYMBOL LOOKUP

Ford fell 1.6 percent after Kirk Kerkorian's Tracinda Corp. said it began its previously announced purchase of up to 20 million shares of the auto maker. The purchase for $8.50 per share is at a 13 percent premium to the stock's price when the deal was first announced last month. Tracinda will now own 5.5 percent of Ford's outstanding common stock.

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