23 Jan Grim data, tech woes drag down stocks
Stocks took a tumble yesterday on new economic data that did little to ease investors’ concerns about the housing and job markets, and on signs that tech giants such as Intel and Microsoft are not immune to the recession.
Growing expectations for quick passage of a federal stimulus bill helped stocks pull off their lows for the session, but the Dow Jones industrial average, down as much as 3.3 percent at midday, still finished 1.3 percent lower, off 105.3 points to 8122.80.
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