GM 18-year low hits US stocks

US stocks closed an erratic session mixed today as General Motors Corp. hit an 18-year low, dragging down the Dow Jones industrial average. Rising oil prices also dulled investor enthusiasm.

The price of crude overshadowed a government report of moderating inflation that initially gave stocks a modest lift. Oil futures settled at US$57.88 (€49.60) a barrel, up 90 cents on the New York Mercantile Exchange, a sharp change from the four-month low they reached Tuesday.