Wall Street mixed after Buffet's remarks

Special Report:Global Financial Crisis

NEW YORK, March 9 (Chinese media) -- Wall Street opened mixed Monday on billionaire investor Warren Buffet's pessimistic remarks about the economy and as a deal between drugmakers Merck and Schering-Plough failed to encourage investors.

Buffet said on CNBC that the economy has "fallen off a cliff" over the past six months. He added to the gloom by saying the economic turmoil has essentially followed the worst-case scenario he imagined.

Merck Co. agreed to buy Schering-Plough Corp. for 41.1 billion U.S. dollars in cash and stock. The price represents a 34 percent premium to Schering-Plough's closing stock price on Friday. The market seems unfazed on the deal, as investors felt frustrated with the ailing economy.

The Dow Jones fell 13.78 to 6,613.16. Broader indexes moved mixed. The Standard Poor's 500 index fell 0.09 to 683.29; and the Nasdaq climbed 6.48 to 1,300.33.