Security fears leads to Dow slide

Stocks fell for a third straight session today as oil prices soared to record highs after the US embassy in Saudi Arabia said it would be closed for two days because of security threats.

Wall Street retreated after oil prices jumped $1.63 to settle at $63.94 a barrel on the New York Mercantile Exchange following the US embassy’s warning that there was a “threat against US government buildings in the kingdom”.