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Wall Street indexes down as Bear bails out fund

US stocks extends decline as financial sector slumped after Bear Stearns Cos Inc said it bailed out a hedge fund that is facing margin calls.

business Updated: Jun 23, 2007 08:19 IST

US stocks extended declines on Friday, dragged lower by the heavily weighted financial sector slumped after Bear Stearns Cos Inc said it bailed out a hedge fund that is facing margin calls.

The Dow Jones industrial average was down 116.57 points, or 0.86 per cent, at 13,429.27. The Standard & Poor's 500 Index was down 14.56 points, or 0.96 per cent, at 1,507.63. The Nasdaq Composite Index was down 26.83 points, or 1.03 per cent, at 2,590.13.

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