Wall Street endured a sharp selloff, giving back all gains seen in a Federal Reserve-inspired rally a day earlier. Demand concerns also plagued crude with oil tumbling 3% to rest under $45 a barrel. The energy sector was the worst performer on markets. Major oilers Exxon Mobil (XOM) and Chevron (CVX) ended the session sharply lower. Phillip Morris (PM) sank after Citigroup initiated coverage with a NEUTRAL rating. Analysts said fellow tobacco companies such as Reynolds American (RAI) and Altria (MO) were far superior investments at a similar price. Intersil (ISIL) jumped after agreeing to be acquired by Japan's Renesas Electronics in a deal worth $3.2 billion. The acquisition has been approved by both boards. Speculation over an impending deal has been percolating since August.
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