Dow Jones Ends Another Lower Week Losing 119 Pts.

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The Dow Jones Industrial Average closed down 119 points, or 1.66% at 7,062, its lowest close since May 7, 1997.

Dow sees largest ever February point loss, S&P closes below technically significant November low close of 752.

Marketplace reports that " After the worst January performance in its 113-year history, the Dow industrials were on track for a February decline of more than 900 points or 11.3%. As things stood with 30 minutes to go before the closing bell, the Dow was on track for its worst February point drop ever, and its second-worst percentage drop since 1933, when it lost 15.6%.

"The S&P stood poised for a monthly loss of 10.5% and the Nasdaq was pointed to a monthly drop of 6%, which would be its worst percentage decline since 2001, when it discarded 22.67% of its value."

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