Higher oil prices sparks slide in US stocks

Stocks skidded today as soaring oil prices offset bullish testimony about the state of the US economy by Federal Reserve Chairman Alan Greenspan.

The Dow Jones industrial average retreated 18.03, or 0.17%, to 10,811.97. That was also down from an intraday high of 10,869.83 – a level it hasn’t closed at since June of 2001.