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Article: UPI NewsTrack Business.
- Article from:
- UPI Energy Resources
- Article date:
- August 31, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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U.S. markets fail to ignite Monday
NEW YORK, Aug. 31 (UPI) -- U.S. markets closed lower Monday following a sharp drop in the Shanghai Composite index, where a slump moved into its fifth consecutive week.
U.S. markets failed to break into positive ground, but shook off about half of early losses late in the day.
By close, the Dow Jones industrial average lost 47.92 points, 0.5 percent, to 9,496.28. The S&P 500 index lost 0.81 percent, 8.31 points, to 1,020.62. The Nasdaq composite index shed 19.71 points, 0.97 percent, to 2,009.06.
The Shanghai index lost 2.9 percent Friday and another 6.74 percent Monday. Stocks closed lower in most ...