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US market indices slide

US market indices slide

13 November 2008 07:47 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. US stocks retreated as recession fears continued to weigh on investor sentiment. The sell-off accelerated after the Treasury department said it would use the US$700 billion rescue fund to invest directly in financials instead of buying illiquid assets.
The Dow shed 411.30, or 4.73 percent, to 8,282.66. It was the lowest close for the Dow since its 5 1/2-year low of 8,175.77 reached on Oct. 27.
The broader Standard & Poor’s 500 index dropped 46.65, or 5.19 percent, to 852.30, and the Nasdaq composite index stumbled 81.69, or 5.17 percent, to 1,499.21.
In Europe, London’s FTSE 100 fell 1.52 percent, Germany’s DAX fell 2.96 percent, and France’s CAC-40 dropped 3.07 percent.

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