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Tuesday, February 9, 2010
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Stocks slide on news of slow economic growth
Stocks are sliding modestly in early morning trading after a new report showed the economy grew at a slower pace in the third quarter than first anticipated.
Investors are entering trading cautiously Tuesday as the updated report from the Commerce Department showed the nation's economy grew at a 2.8 percent rate in the third quarter, down from an initial estimate of 3.5 percent. The report provided fresh evidence that the economic recovery will likely be slow and bumpy. The Dow Jones industrial average is down 22.98, or 0.2 percent, at 10,427.97. The Standard & Poor's 500 index is down 2.06, or 0.2 percent, at 1,104.18, while the Nasdaq composite index is down 5.62, or 0.3 percent, at 2,170.39.
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