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Stocks open lower as investors refocus on economy
By JOE BEL BRUNO and SARA LEPRO
AP Business Writer
(AP:NEW YORK) Investors digested more downbeat economic news Friday and cashed in some of their gains from the previous session’s big rally. Hints from Federal Reserve Chairman Ben Bernanke that another interest rate cut might be possible appeared to have little effect on trading.
Some retrenchment was to be expected after such a big advance, in which the Dow Jones industrials rallied more than 550 points. But there was also plenty of discouraging news for investors to focus on, including comments from Bernanke that the markets remain under "severe strain" and a sobering report…
14Nov2008 | INO | Comments Off | Continued
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