New York – The Dow Jones Industrial Average plunged more than 170 points to close below the 12,000-mark. The last time the index closed below 12,000 was Mar. 18, 2011. This week marks the Dow’s worst losing streak since 2002.
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The market is on track for its sixth straight weekly loss, the longest weekly losing streak since the fall of 2002. Stocks have suffered this month after weak economic news dampened hopes for a speedy recovery. Traders fear that slower economic growth will halt the bull market in stocks.
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