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Subprime losses hit US stocks
- US: Saturday, November 10 - 2007 at 09:23
US markets endured sizeable losses yesterday, Friday, as the country's fourth largest bank, Wachovia, revealed that it would lose $1.1bn in October alone due to the ongoing subprime mortgage crisis, reported the BBC. The Dow Jones retreated 224 points, or 1.7%, to 13,042, while the Nasdaq fell 68 points, or 2.6%, to 2,628. The FTSE 100 was also down 77 points, or 1.2%, at 6,304.9.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, November 10 - 2007 at 09:23 UAE local time (GMT+4)
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