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Weak economic reports send stock market lower

6:04 AM, Apr 4, 2013   |    comments
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NEW YORK (AP) - Will it be another down day on Wall Street or will the markets turn around?

Traders will be looking closely at the government's numbers on weekly unemployment claims.

Weak reports on hiring and service industries sent the stock market sharply lower yesterday, giving the Dow Jones industrial average its worst day in more than a month.

The Dow fell nearly 112 points, or 0.8 percent, to 14,550, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16 ½ points, or 1.1 percent, to 1,553. Both indexes closed at record highs the day before.

The Nasdaq composite lost 36 points, or 1.1 percent.

The losses were widespread. All 10 industry groups in the S&P 500 index fell. Banks and energy stocks had the worst losses.






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