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Markets fall on $120 oil, weak dollar, mixed earnings
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Posted on
Apr 23 2008 4:50 AM
by
adeal
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The Dow was down as much as 150 points today as oil rose, the dollar fell and corporate earnings were mixed at best. As of 1:15, the Dow is at 12,684, down 140. Bad news for the equities markets seems to be popping up just about everywhere you look. Not even good earnings from McDonald's (NYSE: MCD) could cut through the gathering economic gloom, and Mickey D's is down on lower same store sales despite the good earnings news. Oil flirted with a record $120 a barrel, while gold was up $6 to $924. Banks are still looking deeply troubled as the housing market bubble keeps deflating.
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