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Dow down 733 at close as new data suggest a recession is inevitable

Business Materials 16 October 2008 03:58 (UTC +04:00)

Investors agonizing over a faltering economy have sent the stock market plunging all over again after two disheartening reports convinced Wall Street that a recession, if not already here, is inevitable. The market's despair - fed by a stream of disheartening economic data - propelled the Dow Jones industrials down 733 points, or 7.8 percent, to their second-largest point loss e may turn uphill again if farmers, whose bumper crops dragged prices down, plant too little next season. "We literally went to the moon and back," says one
discouraged Canadian wheat grower, AP reported.

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