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VOL. 129 | NO. 149 | Friday, August 01, 2014

US Stocks Plunge, Wiping Out July's Gains

AP

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NEW YORK (AP) — U.S. stocks had their worst one-day drop since February as traders worried about weak corporate earnings and the looming end of economic stimulus from the Federal Reserve.

The drop interrupted a prolonged advance in the market and erased its gains for July. It was only the second monthly loss for stocks this year, after January.

The Dow Jones industrial average plunged 317 points, or 1.9 percent, to close at 16,563 Thursday.

The Standard & Poor's 500 index dropped 39 points, or 2 percent, to 1,930. The Nasdaq composite dropped 93 points, or 2.1 percent, to 4,369.

The S&P 500 closed at a record high just one week ago.

Whole Foods Market, Yum Brands and Exxon Mobil were among companies that fell after reporting results or forecasts that disappointed investors.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 0 58 3,853
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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