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Article: Dow Jones Slapped from Two Sides, Hits New Bear-Market Low.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- September 25, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. 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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By Tom Walker, The Atlanta Journal-Constitution Knight Ridder/Tribune Business News
Sep. 25--The Dow Jones industrial average dropped to a new bear-market low Tuesday on a mix of bad economic and corporate news.
The bellwether index of 30 big stocks is only 100 points above its close in September 1998 during the Russian debt default crisis.
The mostly tech-driven Nasdaq composite index fell to a new low Monday, leaving Standard & Poor's 500-stock index as the only major index still trading above its midsummer low.
Analysts blamed the losses on the Federal Reserve's decision to leave short-term interest rates unchanged at its policy ...