Stocks Fall Sharply on Oil Jitters; Dow Drops 228 Points to Close Below 12,000

The Dow closed below 12,000 on Thursday, slipping back under
the psychological barrier that it passed in late January.

Jitters about the oil market and the conflict in Libya, as
well as some disappointing economic news, served as a
reminder of the fragile nature of the global recovery.

At the close, the Dow Jones industrial average was down
228.48 points, or 1.87 percent, to 11,984.61. The Standard &
Poor's 500-stock index fell 24.91 points, or 1.89 percent, to
1,295.11. The Nasdaq fell 50.70, or 1.84 percent, to
2,701.02.

Protests at Military Funerals Are Protected Speech, Justices Rule

The Supreme Court ruled on Wednesday that protests and
picketing at military funerals are protected by the First
Amendment's free-speech guarantee, taking precedence over the
mourners' right to privacy.

The court decided 8-1 to uphold a lower court decision in
favor of members of the Westboro Baptist Church of Topeka,
Kan., who frequently stage protests at private military
funerals to promote the church's claim that God is angry at
America for its tolerance of homosexuality, with signs
bearing messages like "Thank God for Dead Soldiers," "You're
Going to Hell" and "God Hates the USA."

The ruling was a defeat for Albert Snyder, the father of a
Marine killed in Iraq in 2006, whose funeral at a Catholic
church in Westminster, Md., was picketed by the Westboro
group.

Majority in Poll Opposes Weakening Bargaining Rights for Public Workers

As labor battles erupt in state capitals around the nation, a
majority of Americans say they oppose efforts to weaken the
collective bargaining rights of public employee unions and
are also against cutting the pay or benefits of public
workers to reduce state budget deficits, according to the
latest New York Times/CBS News poll.

U.S. Economy Added 103,000 Jobs in December; Jobless Rate Dips to 9.4%

The United States economy ended the year by adding 103,000
jobs in December, the Labor Department said Friday, a number
that missed expectations. But the unemployment fell to 9.4
from 9.8 percent.

The agency also revised estimates from the two earlier
months, now saying that 210,000 jobs were created in October
instead of 172,000 and 71,000 in November, instead of 39,000.

As with previous months, almost all of the gain in December
-- 113,000 jobs -- came from private companies.

New York Congressman Resigns After Internet Postings

Representative Chris Lee of New York, caught in the midst of
a scandal involving a shirtless photo he reportedly sent to a
woman on the Internet, has stepped down, according to a
senior Congressional official.

Mr. Lee, a Republican, notified the Republican Speaker of the
House of his decision in a letter he sent this afternoon
after the scandal erupted.