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Dow Tumbles 200 Points

Posted By admin On February 4, 2010 @ 1:26 pm In Money Watch | Comments Disabled

Alexandra Twin
CNN Money [1]
Thursday, February 4, 2010

NEW YORK (CNNMoney.com) — Stocks slumped Thursday after a rise in weekly jobless claims sent an alarm ahead of the big monthly employment report.

The dollar’s surge versus the euro pummeled dollar-traded commodities, while Treasury bond prices spiked, lowering corresponding yields, in a classic flight-to-safety move.


Dow Tumbles 200 Points 190110banner4 [2]

The Dow Jones industrial average (INDU [3]) lost 215 points, or 2.1%, with under 3 hours left in the session. The S&P 500 index (SPX [4]) fell 27 points, or 2.4%. The Nasdaq composite (COMP [5]) fell 50 points, or 2.3%. All three major indexes were flirting with fresh two- to three-month lows.

“The market is turning its attention to the jobs data and it doesn’t like what it’s seeing,” said Matt King, chief investment officer at Bell Investment Advisors.

Full story here. [1]

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URLs in this post:

[1] CNN Money: http://money.cnn.com/2010/02/04/markets/markets_newyork/

[2] Image: http://www.prisonplanet.tv

[3] INDU: http://money.cnn.com/quote/quote.html?symb=INDU&source=story_quote_link

[4] SPX: http://money.cnn.com/quote/quote.html?symb=SPX&source=story_quote_link

[5] COMP: http://money.cnn.com/quote/quote.html?symb=COMP&source=story_quote_link

[6] Dow Drops Over 200 points: http://www.prisonplanet.com/dow-drops-over-200-points.html

[7] Stocks Plunge on Economic Fears, Gold Hits Record High: http://www.prisonplanet.com/stocks-plunge-on-economic-fears-gold-hits-record-high.html

[8] Stocks sink to 3-month lows: http://www.prisonplanet.com/stocks-sink-to-3-month-lows.html

[9] Wall St extends losses on economic gloom: http://www.prisonplanet.com/wall-st-extends-losses-on-economic-gloom.html

[10] Stocks drubbed at open: http://www.prisonplanet.com/stocks-drubbed-at-open.html

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