Fed worried about further weakness

August 26, 2008

The Federal Reserve showed greater concern about further economic weakness rather than inflation at a meeting earlier this month. On Wall Street, the Dow rallied 26 points to 11,412. The S&P 500 jumped 4 points to 1,271. The Nasdaq slipped 3 points to 2,361. Crude oil rose $1.16 a barrel to $116.27. Conway Gittens reports from New York.