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Dow Off 184 on Consumer Woes

By Will McCahill,  Newser Staff

Posted May 13, 2009 3:09 PM CDT

(Newser) – The ugly news on consumer spending cast a pall over Wall Street throughout today’s session, the Financial Times reports, pushing all three major indices down more than 2%. The unexpected dip in retail sales was particularly hard on retailers Target, Lowe’s, and Office Depot. The Dow finished off 184.22 at 8,284.89; the Nasdaq ended down 51.73, to 1,664.19; and the S&P 500 dropped 24.44, to 883.91.

The New York Stock Exchange.
The New York Stock Exchange.   (Flickr)
The New York Stock Exchange is seen in the distance on a deserted Wall Street.
The New York Stock Exchange is seen in the distance on a deserted Wall Street.   (Flickr)
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We are certainly a lot more cautious than we were two or three weeks ago. The runway just isn't entirely clear now as you've got to deal with the Fed printing money, inflation down the road, and unemployment still rising. - Jack McPherson, Eagle Boston Investment Management

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