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News Wrap: Falling Oil Prices Pull Markets Down

November 12, 2009 at 12:00 AM EST
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In other news, falling oil prices drove down U.S. stocks markets, and the Federal Reserve issued a new rule preventing banks from charging overdraft fees on ATM and debit-card withdrawals.
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JIM LEHRER: In other news today, Wall Street gave back some of its recent gains. The Dow Jones industrial average lost more than 93 points, to close at 10,197. The Nasdaq fell more than 17 points, to close at 2,149.

Falling oil prices helped pull down energy stocks and the broader market. The price in New York trading slipped back under $77 a barrel, after news that petroleum supplies rose this week.

Banks will have to stop charging for overdrafts on ATM and debit card withdrawals unless customers agree. The Federal Reserve issued that rule today. Starting next July, bank customers must opt in to overdraft coverage if they want it. Consumer groups complained many people don’t realize overdrafts are even allowed on debit card transactions.

Cigarette smoking in the U.S. rose last year for the first time since 1994, the U.S. Centers for Disease Control reported today on a national survey for 2008. Nearly 21 percent of adult Americans said they were smokers, up a point from the previous year. A second survey found West Virginia and Indiana had the highest smoking rate. Utah had the lowest.