Dow Jones Industrials Edge Down In Late Trading
Market data shows the Dow Jones Industrial Average at 9,878.78 with a 0.81 percent loss from the previous close. The index traded between 9,760.64 and 9,908.14 as investors weighed recent earnings and economic signals amid record-high prior levels.
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White House weighs steel imports regulation as crisis grows
In Wheeling, U S officials and union leaders say the Bush administration is studying Section 201 of the 1974 Fair Trade Act to curb steel imports. Zoellick met with union head Mark Glyptis and Rep. Bob Ney to discuss quotas tariffs or trade adjustments. Weirton Steel and Wheeling-Pitt, among the top producers, face layoffs and bankruptcies amid the import crisis that has cost about 15,000 steel jobs nationwide. The ITC would study six months if invoked, guiding possible relief measures.
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Stocks finish dismal quarter on positive note
Bargain hunters pushed stock prices higher on the last trading day of a brutal quarter. Investors ignored deeper economic slumps and a recession scare, buying beaten tech and blue chip shares while fund managers trimmed losers and lifted winners. The Dow rose but logged its worst first quarter on record for points, with the Nasdaq up modestly from near two-year lows.
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