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April 26, 2024

Stocks close sharply lower

By STAN CHOE
AP Business Writer

NEW YORK — Worries about a potentially toxic cocktail combining stubbornly high inflation with a flagging economy dragged U.S. stocks lower on Thursday. A sharp drop for Facebook's parent company, one of Wall Street's most influential stocks, also hurt the market.

The S&P 500 fell 0.5% and sliced some of the gain off what had been a big winning week. It looked to be heading for a much worse loss in the morning, when it tumbled as much as 1.6%.


 
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