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November 20, 2008

Dow Jones Falls Below 8,000, First Time Since 2003
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In economic news, the Dow Jones index fell over five percent Wednesday,
ending the day below 8,000, its lowest level since March 2003. The
market is now down 43 percent since it hit a high point in October 2007.
USA Today estimates nearly $10 trillion in wealth has been wiped out
over the past year. Wall Street stocks fell Wednesday after reports
showed the biggest monthly drop in the consumer price index in sixty-one
years. Meanwhile, the Commerce Department reported that construction of
new homes plunged last month to the lowest level in the forty-nine years
that the government has kept records.



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