Business Highlights

Stocks slide as rising dollar hits oil prices

NEW YORK (AP) — A strengthening dollar and worries about an overheated market pounded stocks on Monday.

Stock indexes started the day higher but turned sharply lower at midmorning as interest rates rose and a rebound in the value of the dollar stalled a rally in commodities. Early gains in prices for oil and other commodities had pushed up shares of energy and materials companies.

The sharp swings in currency and commodity markets sent the Dow Jones industrial average whipsawing in a 200-point range, surrendering an early advance for a loss of 104 points to end at 9,867.96. Stocks have fallen in four of the last five days.

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Verizon profit falls 30 pct on restructuring costs

Verizon Communications Inc. reported a 30 percent drop in third-quarter earnings Monday as it couldn't sign up enough new subscribers to offset higher costs from laying off workers and absorbing an acquisition.