Stocks plummeted last Thursday. The Dow Jones Industrial Average was down 251 points and the Nasdaq composite lost 71 points. The S&P 500 declined 30 points. All major indexes lost any gains they had made earlier in the week.
This was the worst market decline in the past three weeks. A factor in the market decline may have been the decline of five large US banks. In addition, home re-sales fell last month and unemployment insurance claims rose to their highest level since early December, 2011. The US Federal Reserve announced last week that they will extend one monetary stimulus program and said that it may help more economic growth.
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