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Wall Street: Ugly is back: Dow and S&P 500 fall to fresh 12-year lows, by Alexandra Twin, CNNMoney.com, March 5, 2009, February 14, 2009
Summary: Wall Street continued its steep decline in March 2009, as rumors of a General Motors bankruptcy, plunging Citigroup shares, and fear over the Obama administration's tax and regulatory policies drove the Dow Jones Industrial Average to 12-year lows. Since closing at a record high 14,164 in October of 2007, the Dow has fallen more than 50%, wiping out trillions of dollars of the nation's wealth.
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Will the stimulus actually stimulate? Economists say no, by Kevin G. Hall, McClatchy Newspapers, February 12, 2009
Summary: In an attempt to rescue jobs and prop up the flagging economy, the Obama administration in February passed a bill to spend $787 billion on projects ranging from highway repairs to the Head Start program for disadvantaged children. But economists are worried that the massive spending bill is too focused on social programs to stimulate real business growth and reverse the trend of rising unemployment.
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Seattle Post-Intelligencer may end print version by Bruce Watson, Daily Finance, March 6, 2009
Summary: Suffering from declining subscription rates and a deepening credit crisis, the newspaper industry is making bold moves to save news divisions. In what is becoming a common trend, the Seattle Post-Intelligencer recently announced that it plans to become an online-only news source.
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Unemployment hits 25-year high, by Chris Isidore, CNNMoney.com, March 6, 2009
Summary: The U.S. jobless rate hit 8.1% in February 2009, as a record-high 12.5 million Americans are now unemployed. The U.S. economy continued to hemorrhage jobs, bringing total job losses to more than 3.3 million over the past six months. The increased losses pushed the unemployment rate to its highest level in 25 years.
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