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Reuters: Dow falls 394.64 points on jobless rate, record oil

Started by dave, June 07, 2008, 02:41:09 PM

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dave

Dow falls 394.64 points on jobless rate, record oil
      


NEW YORK (Reuters) - Stocks plunged on Friday, marking the Dow's worst day in 15 months, after the government said the May unemployment rate jumped the most in 22 years and oil prices shot to another record, renewing fears that the U.S. economy faces 1970s-style stagflation.
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