27 Feb '12, 4pm

Petrobras: Wall St off 4-year peaks; dollar rises

NEW YORK (Reuters) - U.S. stocks retreated from four-year highs on Monday, joining lower European markets, on fresh worries about euro zone finances and fear that high oil prices could flatten the fragile global economic recovery. Crude oil fell for the first time in a week, but was not far from last week's 10-month highs above $125 a barrel in London and 9-month peaks near $110 in New York. "In the absence of a lot of news you're seeing profit taking to start the day," said Rick Meckler, president of investment firm LibertyView Capital Management in New York, which oversees about $2 billion. "It wouldn't be healthy if there wasn't some profit taking." The flow of money out of stocks and commodities into currencies helped push up the dollar. Investors lent support to the greenback after it had fallen against the euro in three previous sessions to near 3-month lows.Central ...

Full article: http://sg.finance.yahoo.com/news/Wall-St-4-year-peaks-dol...

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