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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (109792)8/4/2011 12:48:17 PM
From: Hope Praytochange2 Recommendations   of 224748
 
Stocks plunge as investors fret about Europe, US economy; Dow loses more than 350 points

View Photo Gallery — ?A look at the hustle and bustle on Wall Street.






By Associated Press, Updated: Thursday, August 4, 11:52 AM



NEW YORK — Stocks are plunging in another broad sell-off as investors grow concerned about an economic slowdown in the U.S. and Europe.

The Dow Jones industrial average dove more than 350 points, erasing its gains for the year.



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    • The latest sign of weakness in the U.S. economy was a report that the number of first-time claims for unemployment edged only slightly lower last week. It is the latest sign that the job market remains stagnant.

    European stocks fell more than 3 percent because of concerns that Italy or Spain may need help from the European Union.

    Dow is down 359 points, or 3 percent, to 11,538 in midday trading. The S&P 500 is down 42, or 3.4 percent, to 1,218. The Nasdaq composite is down 94, or 3.5 percent, to 2,598.
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