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Article: US stocks slump on recovery concerns.

Article from:
Times of Oman (Muscat, Oman)
Article date:
October 29, 2009
Copyright

Byline: AFP

NEW YORK: US stocks tumbled Wednesday to their worst loss this month amid concerns over the pace of economic recovery following an unexpected decline in new home sales and dampening consumer sentiment.

The Dow Jones Industrial Average lost 119.48 points (1.21 percent) to finish at 9,762.69, a day after Wall Street closed mainly negative following a weaker-than-expected consumer confidence report.

The tech-heavy NASDAQ shed 56.48 points (2.67 percent) to 2,059.61 and the broad-market Standard & Poor s 500 index retreated 20.78 points (1.95 percent) to 1,042.63.

Stocks plunged on fears that the continuation of the economic ...

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