US market falls in late sell-off, volume light
April 10, 2011 00:00:00
NEW YORK, April 9 (Reuters): US stocks fell late Friday as a spike in oil prices revived worries that inflation would derail the recovery, jolting a market that had been treading water ahead of corporate earnings.
The uncertain outcome of budget talks in Washington and the prospect of a US government shutdown as a midnight deadline loomed spurred investors to buy protection ahead of the weekend.
Many traders bought short-term put options on the SPDR S&P 500 Trust.
