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November 20, 2009
Economic data pummels stocks
NEW YORK (AP) — Signs of a subdued economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.
Major indexes tumbled about 1 percent, including the Dow Jones industrial average, which lost 94 points but ended well off its low. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst's downgrade of the chip industry pulled technology shares sharply lower.
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