Stocks slide on Wall Street extends sell off
Wall Street extended its sell-off as the Dow fell 73 points to 12,859 and the S&P 500 slipped to 1,383 while the Nasdaq dropped to 2,906. Investors worry about gridlock in Washington and the fiscal cliff set to hit Jan. 1, with measures like capital gains taxes looming. The day followed the Dow’s 313-point plunge on Wednesday amid election outcomes and eurozone concerns.
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Weekly jobless claims dip to 355 000 as storm distorts data
The Labor Department reports 355 000 initial jobless claims last week, down 8 000 from the prior period, aided by seasonal adjustment but distorted by Superstorm Sandy. Four week average rose to 370 500, and officials warn the storm may affect claims for up to four weeks.
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