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Market Update : 
Foreclosure Fears, Default Notices
Author: 123jump.com Staff
123jump.com
Last Update: 5:06 PM EST March 06 2008

U.S. stocks closed lower after credit market worries and rising home foreclosures dominated trading sentiment. Home foreclosures nearly doubled in the last quarter as homeowners struggled with rising monthly payments. Thornburg fell 51% after it received loan default notice from JP Morgan. February same stores sales at JC Penney, Chicos, Limited, Kohls and Gap fell. Wal-Mart sales rose 2.6%. Jobless claims fell 24,000.

 

 

 
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