Stocks knocked back to 1997

Nov. 20 - Wall Street was punished as a spike in unemployment claims and continued uncertainty about the auto industry prompted even more worries of a deep recession.

The Dow tumbled 444 points, or 5.5 percent, to 7,552. The S&P 500 was knocked down by 54 points, or 6.7 percent, to 752. The Nasdaq shed 70 points, a drop of 5 percent, to 1,316.

Crude oil prices closed at lows not seen since May 2005. Conway Gittens reports from New York.

SPEAKER: Alan Valdes, vice president of trading, Hilliard Lyons