国际英语新闻：U.S. stocks fall as pessimism prevails

NEW YORK, March 9 (Xinhua) -- U.S. stocks fell on Monday as a prevailing pessimism on the economy offset the recovering financial shares. Nasdaq shed nearly 2 percent as technology shares led the way down.

    Financial stocks rose on a news report that Bank of America Corp. could raise capital in the private sector. Banking sector has been tumbling as investors worried that banks don't have enough cash to cover future losses despite government rescue efforts.

    Pessimistic remarks by billionaire investor Warren Buffet added to the downbeat mood. Buffet said on CNBC that the economy has "fallen off a cliff" over the past six months. He added to the gloom by saying the economic turmoil has essentially followed the worst-case scenario he imagined.

    Crude oil price gained 1.55 U.S. dollars to settle at 47.07 dollars a barrel on the New York Mercantile Exchange on Monday, which helped to lift energy shares.

Traders work on the floor of the New York Stock Exchange March 9, 2009.

    Merck & Co. agreed to buy Schering-Plough Corp. for 41.1 billion U.S. dollars in cash and stock. The price represents a 34 percent premium to Schering-Plough's closing stock price on Friday.

    The Dow Jones fell 79.89, or 1.21 percent, to 6,547.05. Broader indexes also slipped. The Standard & Poor's 500 index lost 6.85 points, or 1.00 percent, to 676.53; and the Nasdaq composite index tumbled 25.21, or 1.95 percent, to 1,268.64.