Author: Elena Todorova
123jump.com
Last Update: 11:40 AM EST November 01 2006
U.S. stocks erased earlier gains on the heels of disappointing economic data which added to concerns about the slowing U.S. economy. The data showed an unexpected slowdown in the pace of growth in the manufacturing sector and an unexpected drop in construction spending. Garmin Ltd. turned into the biggest decliner on the Nasdaq, falling 14%, on disappointing sales.
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