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Article: Local stocks, Dow swoon
- Article from:
- Tribune-Review/Pittsburgh Tribune-Review
- Article date:
- February 28, 2007
CopyrightCopyright 2007 Tribune-Review/Pittsburgh Tribune-Review. Provided by ProQuest LLC. (Hide copyright information)
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U.S. stocks plunged to their worst one-day performance since 2001
on Tuesday, with the Dow Jones Industrial Average losing 200 points
in one minute around 3 p.m. before recovering some ground by the
close, after a sell-off in China fueled concerns about growth.
Concerns that tighter credit conditions in China and Japan might
dampen global growth first sent Chinese stocks sliding 9 percent
overnight before the sell-off spread to other markets.
The Dow Jones Industrial Average fell 415 points, or 3.3 percent,
to close at 12,216, its worst one-day drop since September 2001. All
30 Dow components fell by at least 1 percent. A last-hour trading
rally helped the Dow recover from its low for the ...