DJIA Leaders and Laggards: General Motors falls, Alcoa gains

NEW YORK—General Motors was the biggest percentage decliner on a down day for the Dow Jones industrial average, which fell as investors digested Microsoft Corp.'s decision not to pursue a buyout of Yahoo Inc. and oil prices hit a new record.

The Dow Jones industrial average shed 88.66 points to finish at 12,969.54. Of the index's 30 components, only four gained on the day.

Crude oil prices rose above $120 a barrel during Monday trading on the New York Mercantile Exchange, the first time the fossil fuel has priced that high.

Shares of General Motors Corp. fell 84 cents, or 3.6 percent, to $22.36. Workers at one of the automaker's Kansas plants walked off the job Monday to protest the lack of a contract.

Shares of insurer American International Group Inc. shed $1.65, or 3.4 percent, to $47.39.

Shares of The Home Depot Inc. lost 75 cents, or 2.5 percent, to $29.37.

On the positive side, Alcoa Inc. gained 78 cents, or 2.2 percent, to $36.89.

Shares of Chevron Corp. added 30 cents to $95.62 as oil prices passed $120 a barrel, before settling just short of that mark at a new record of $119.97.

Shares of Boeing Co. gained 23 cents to $85.92 after the airplane maker received orders for 30 new planes from the government of Iraq.