REFILE-US STOCKS-Credit jitters, oil hit Wall St; banks dive

Wed Aug 13, 2008 7:00pm BST
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(Refiles to fix capitalization of DiLiddo and VectorVest in 6th paragraph)

* Oil futures rise nearly $4 a barrel

* Financial shares tumble on credit concerns

* Liz Claiborne outlook disappoints

* Import prices jump, retail sales off in July (Updates to early afternoon)

By Deepa Seetharaman

NEW YORK, Aug 13 (Reuters) - U.S. stocks slid on Wednesday as financial shares sold off for a second straight day on fresh concerns about the widening impact of the mortgage crisis on the U.S. economy's outlook.

A rebound in oil prices added to investor concerns, along with Deere & Co's (DE.N: Quote, Profile, Research) profit shortfall and disappointing retail company outlooks.

Investors sold off shares of major banks and other financial firms, a day after JPMorgan Chase & Co (JPM.N: Quote, Profile, Research) said it had racked up an additional $1.5 billion in write-downs stemming from soured mortgage-related investments.  Continued...

 
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