Stock Watch: Investors Wary of Rate Hike; Slow Retail Sales, Deficit Warning Also Pull Stocks Down
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Summary
NEW YORK - Stocks slumped Thursday as upbeat labor market data was eclipsed by interest rate worries, lackluster retail sales and a stern warning about the nation's budget deficit from Federal Reserve Chairman Alan Greenspan.
Continuing a now weekslong pattern, Wall Street fell on good economic news that it believed would motivate the Fed to raise rates. The Labor Department reported that the number of people filing new claims for unemployment insurance fell last week to the lowest level since October 2000, a far greater decline than analysts had anticipated.See the full content of this document
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Stock Watch: Investors Wary of Rate Hike; Slow Retail Sales, Deficit Warning Also Pull Stocks Down
The drop added to the market's suspense about the government's monthly jobs report scheduled for release today.
"Th...See the full content of this document
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