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Updated from 2:22 p.m. EDT
Stocks in New York were falling sharply again Thursday, and tight credit markets and pessimism about the financial sector sent the Dow Jones Industrial Average well below the 9000 mark.
The Dow, earlier up as much as 190 points, was recently down 359 points, or 3.9%, at 8878. It was one year ago today that the Dow closed at an all-time record high of 14,164. The S&P 500 was losing 46 points, or 4.6%, to 939, and the Nasdaq was off 47 points at 1693.
On Wednesday, markets sold off even after the Federal Reserve, along with central banks in Europe and Canada, orchestrated a coordinated cut in interest rates to help free up the credit markets. ...
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