AP - Wall Street tumbled Friday, taking the Dow Jones industrials down nearly 400 points, on a pair of alarming economic developments: oil prices that shot up by more than $11 a barrel and approached $140 for the first time, and the biggest gain in the government's unemployment reading in more than 20 years.

Reuters - Stocks plunged on Friday, marking the Dow's worst day in 15 months, after the government said the May unemployment rate jumped the most in 22 years and oil prices shot to another record, renewing fears that the U.S. economy faces 1970s-style stagflation.

AFP - Europe's main stock markets rallied Friday as energy companies garnered support from surging crude oil prices which boost their profits, analysts said.

AFP - Leading shares closed sharply lower, near the session low, as Wall Street plunged after the government reported a larger-than-expected jump in unemployment and the price of oil shot higher.

Reuters - U.S. stocks slid on Friday on renewed fears the U.S. economy faces 1970s-style stagflation after government data showed the unemployment rate jumped the most in 22 years in May and the price of oil hit a record.

AP - Wall Street plunged Friday on two troubling economic developments: oil prices that surged more than $10 a barrel to a fresh record and a jump in unemployment that was much larger than the market anticipated. The Dow Jones industrial average fell more than 300 points.

Reuters - U.S. stocks rose the most in more than a month on Thursday after Wal-Mart and other retailers posted stronger-than-expected May sales and data showed a surprising fall in weekly jobless claims, spurring optimism about the economy's health.

AP - Wall Street surged Thursday as investors looked past a sharp rebound in oil prices and focused on comforting news about the economy — better-than-expected retail sales and a drop in the number of laid-off workers seeking unemployment benefits.

Reuters - The U.S. Securities and Exchange Commission is investigating whether American International Group Inc overstated the value of contracts linked to subprime mortgages, the Wall Street Journal said on Friday, citing people familiar with the matter.

AP - Japanese stocks rose to a five-month high Friday as investors snatched up exporter shares on a weaker yen and oil issues on rising crude prices.

AP - Wall Street rose sharply Thursday after investors got some comforting news about the economy — some better-than-expected retail sales in May and a drop in the number of laid-off workers seeking unemployment benefits. The Dow Jones industrials rose more than 130 points.

Reuters - Stocks pulled back from session highs on Thursday after Standard & Poor's cut the credit ratings of bond insurers MBIA Inc and Ambac Financial , keeping worries alive about credit losses.

AFP - Oil prices fell Wednesday, extending recent heavy losses on the back of a stronger dollar and as investors reacted to rising motor fuel inventories in the United States.

Reuters - Blue-chip stocks dipped on Wednesday to close at their lowest since mid-April after Federal Reserve Chairman Ben Bernanke stoked inflation worries and concerns about more credit losses dogged financial shares.