U.S. stocks tanked Friday as lower-than-estimated profit forecasts at American Express Co. and Tiffany & Co. heightened concern that the economy is shrinking and sent the Standard & Poor's 500 Index to its worst start since 1982.
The jittery atmosphere left the Dow Jones industrial average with a weekly loss of 193.88, or 1.51%, to 12606.30. The S&P 500 fell 0.75% and the Nasdaq Composite slid 2.58%. The Dow is down 4.96% for the year, the S&P is off 4.59%, and the Nasdaq has lost 8.01%.
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|Article Type:||Brief article|
|Date:||Jan 14, 2008|
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