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Tech stocks take another hit, sending Nasdaq to a 3rd straight losing week; JPMorgan slides

NEW YORK, N.Y. - Technology stocks are dropping for a second day in a row as investors flee highflying Internet and biotechnology companies.

The Nasdaq composite closed out its third losing week in a row.

The Nasdaq lost 54 points, or 1.3 per cent, to end at 3,999 Friday. It was only the second time this year the index has closed below 4,000. It's down 8 per cent from the high it reached in early March.

The Standard & Poor's 500 fell 17 points, or 1 per cent, to 1,815. The Dow Jones industrial average fell 143 points, or 0.9 per cent, to 16,026.

JPMorgan Chase fell 4 per cent after reporting weaker earnings. Other big banks also fell, including Bank of America.

Bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.62 per cent.

The Canadian Press


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S&P TSX14337.77+110.09
S&P CDNX811.351.22
DJIA16399.6719.26
Nasdaq4316.075+57.637
S&P 5001904.01+17.25
CDN Dollar0.8882+0.0024
Gold1249.00+4.30
Oil81.45+0.07
Lumber330.40-0.50
Natural Gas3.678+0.008

 
Okanagan Companies
Pacific Safety0.10-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.12+0.01
Cantex0.055-0.025
Anavex Life Sciences0.191+0.001
Metalex Ventures0.050.00
Russel Metals32.28-0.07
Copper Mountain Mining1.99+0.05
Colorado Resources0.15+0.005
ReliaBrand Inc0.0111-0.0019
Sunrise Resources Ltd0.060.00
Mission Ready Services0.450.00

 



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