Profit Takers Clip Away At Stock Market Prices
Profit takers chipped away at stock market prices after the Washington weekend, Dow Jones average down 7.70, volume 23.46 million on the NYSE, S&P 500 index off 0.62, and the NYSE composite down 52.03. Bank troubles at Hamilton National Bank of Chattanooga weighed on sentiment, New York City budget deficit estimates rose to about $1 billion, and inflation fears from winter weather influenced oil and commodity pricing. Some issues, including Pan American World Airways and American Airlines, posted gains amid a broader downtrend. The NASDAQ composite dipped as OTC activity fell.
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