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July 18, 2019

Railroads sink industrial stocks

By DAMIAN J. TROISE
AP Business Writer

NEW YORK — U.S. stocks extended their losses into a second day on Wednesday as railroad operator CSX had its biggest drop in 11 years, pulling other industrial companies down with it.

Banks also fell as investors worried that lower interest rates will hurt their profits going forward. Investors expect the Federal Reserve to cut interest rates for the first time in a decade at their next policy meeting in two weeks.


 
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