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Nervous Investors, Ambac Downgrade |
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Author: 123jump.com Staff
123jump.com
Last Update: 5:43 PM EST January 18 2008
U.S. stocks fell at close after volatile session. Worries related to bond insurers were added to credit market jitters, housing market worries, and declining consumer spending. Three popular averages fell. The President Bush plan to stimulate economy with $150 billion of fiscal measures did not impress investors. General Electric and IBM rose after reporting higher earnings largely on the strength in international markets. Ambac, bond insurer, dropped after Fitch lowered its rating to AA. |
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