Stocks down for week - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Stocks down for week

NEW YORK (AP) - Stocks closed lower today, putting stocks in the red for their first full week of trading in 2009. The Dow Jones industrial average finished with a loss of 143 points at 8,599 and down 435 points on the week. Declining issues on the New York Stock Exchange led gainers 2-1 on volume of 4 billion shares. The Nasdaq composite index was down 45 points at the 1,571 level, a loss of 60 for the week. Roughly 1.9 billion shares traded on the tech-heavy exchange. And the S&P 500 dropped 19 points, closing at 890, down 41 points for the week. It was all about jobs on Wall Street today. Investors, rattled by news of a 7.2-percent jobless rate for December, sold stocks on concern that rising unemployment will mean less consumer spending. Since consumer spending accounts for two-thirds of all economic activity, a pullback could mean a longer and deeper recession.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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