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Thursday, November 1, 2007

Dow falls 362 on Citigroup, financial weakness

The banking giant's shares fall about 7%, dragging most financial stocks lower on worries that more subprime-mortgage losses are ahead. Exxon tumbles as profits are squeezed. Crocs' shares tumble on lower-than-expected sales guidance.

Today's was the Dow's biggest loss since Oct. 19, when the blue-chip index fell 367 points, and the fourth-largest point and percentage loss for the Dow this year. For the S&P 500, today's decline was the largest since Aug. 9. It was also the latter index's third-largest point loss and fourth-largest percentage loss for the year.

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