The New York Times
Thu, May 20, 2010 -- 10:36 AM ET
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Stocks Extend a Steep Slide
The stock market extended its sharp slide Thursday after
disappointing employment news added to investors' already
bleak view of the world economy.
The Dow Jones industrial average fell 200 points in morning
trading. Interest rates fell sharply in the Treasury market
as investors once again sought the safety of United States
government debt.
The euro, which has become a key indicator for confidence in
Europe's economy, is falling again and continues to hover
near a four-year low.
The Labor Department said new claims for unemployment
benefits rose by 25,000 to 471,000, their largest amount in
three months. That came as an unpleasant surprise to
investors who were expecting a slight drop to 440,000.
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