Dow nosedives

Wall Street nosedived today after an upswing in consumer prices intensified US investors’ fears that the Federal Reserve will extend its nearly two-year string of interest rate increases.

Dow nosedives
Wed, 17 May, 2006 - 22:33

Wall Street nosedived today after an upswing in consumer prices intensified US investors’ fears that the Federal Reserve will extend its nearly two-year string of interest rate increases.

The Dow Jones industrial average suffered its biggest one-day loss in three years, and the Nasdaq composite index turned negative for 2006.

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CourtsBusinessHeathrowPlace: USPerson: Ken TowerOrganisation: DowOrganisation: Wall StreetOrganisation: Federal ReserveOrganisation: NasdaqOrganisation: Labour DepartmentOrganisation: CPIOrganisation: Hewlett-PackardOrganisation: SchwabOrganisation: TowerOrganisation: Standard & Poor
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