Stocks Closed Lower on Downbeat Economic News

The Dow Jones industrial average closed 424.7 points lower to 10,985.50 on Thursday due to worries over a global economic slowdown. In Europe, the major indexes at closing had fallen sharply, with London's FTSE off 4.5 percent and the German DAX down 5.8 percent. While the Dow fell 3.72 percent, the S&P 500 fell 3.96 percent to 1,146.7 at the close. Back in the U.S., the Labor Department reported 408,000 initial unemployment claims were filed in the week that ended Aug. 13, up 9,000 from a...Full Story
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