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Wednesday
Mar092011

Stocks Down and Oil Prices Up

Comstock/Thinkstock(NEW YORK) -- The bull market celebrates its third year Wednesday, when stocks roared back from 12-year lows in the spring of 2009. The Standard and Poor's 500 index is up 95 percent since then.

Stocks fell Wednesday as the fighting continues in Libya. There are reports an oil production line and storage depot were hit by Ghadafi's Air Force. Meanwhile,  the U.S. and other members of the U.N. Security Council are talking about a possible no fly zone. So far no action taken and oil prices continue to rise.

Medtronic, the world's number one medical device company, says its resolved two warning letters from the FDA. Regulators criticized lax oversight at two manufacturing plants. The settlement clears the way for new Medtronic product approvals.

Copyright 2011 ABC News Radio

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