Wall Street: The bear is back

Stocks slumped Wednesday, with the Dow and Nasdaq ending in bear market territory on record oil prices, a 15% slump in GM stock and worries ahead of the June jobs report and ECB interest-rate decision, both due Thursday.

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Kerkorian’s Ford tender offer on track despite slump

Billionaire investor Kirk Kerkorian today said he would would move ahead with a tender offer for Ford Motor Co. shares, signaling a bigger bet on the automaker’s turnaround despite the recent slump in its stock and lowered financial outlook.