WASHINGTON (AP) - A record jump in the price of imported oil pushed the trade deficit to $63.8 billion in May, offsetting robust overseas sales gains by American companies.

On Wall Street, stocks dropped sharply after a separate report showed that weekly oil inventories fell to their lowest level since early March. That raised the prospect that the U.S. will have to import even more oil.

The price of foreign oil jumped by the largest amount since the run-up to the first U.S.-Iraq war in 1990, and America