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Wall Street starts sharply lower

Thursday, 7th August 2008

US stocks started sharply lower today after the government said jobless claims climbed last week, insurer American International Group Inc. reported a large loss, and Wal-Mart Stores Inc.'s sales results disappointed.

The Dow Jones Industrial Average fell 111.46 points to 11,544.61. The S&P 500 dropped 9.59 points to 1,279.6, while the Nasdaq Composite shed 16.43 points to 2,361.94.

To be updated........

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