Market diary.

Soaring oil prices prompted a sell-off on Wall Street during the week ended June 11. The Dow Jones industrial average fell 2.5 percent to 12,083.80, down 9 percent on the year. Both the Nasdaq and the Standard & Poor's 500 recorded steeper drops, with the LABJ index of 200 local companies doing

marginally better as declines in the financial and real estate sectors were offset by rises in oil stocks. Apparel maker Hot Topic was the week's biggest gainer as its stock shoot up 17 percent on June 5 after a bullish May sales report. Occidental Petroleum and Breit-Burn Energy Partners both rose 5 percent as oil prices reached stratospheric levels of nearly $140 per barrel. Meanwhile, FirstFed Financial Corp. was the week's biggest loser, plunging 28 percent as the banking sector came under renewed pressure from continuing loan losses. First Regional 8ancorp and East West Bancorp also succumbed to the carnage, each falling about 19 percent.