US stocks fell, and the Dow Jones Industrial Average narrowly averted bear-market territory after a two-session 465-point sell-off, dragged down by ever-rising oil prices and financial fears.

The financial and consumer-discretionary sectors again reflected heightened concerns about the outlook for the financial system and the US consumer, wounding giants like Citigroup and General Motors.

The unprecedented jump in oil to above $US140 a barrel has not only hit consumers but also lifted the price of raw materials for food producers like Smithfield Foods, Coca-Cola and, as one market participant put it, "anyone who uses gasoline or electricity. ... Read full article