US stocks drop

Wall Street took a tumble today on renewed concerns about the financial sector and FedEx Corp’s warning that weakening demand and surging fuel costs would weigh on profits in the coming year.

The Dow Jones industrial average finished down more than 130 points, after briefly dipping below the 12,000 mark for the first time since mid-March. All three major stock indexes finished down about 1%, as oil and bond prices jumped.