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The Honolulu Advertiser
Posted on: Wednesday, April 8, 2009

Stocks closed sharply lower as traders brace for grim earnings

Associated Press

Investors dumped stocks for a second day yesterday, prolonging a break from a huge four-week rally as the market girds for potentially grim earnings reports.

Major market barometers all fell more than 2 percent, including the Dow Jones industrial average, which lost 186 points to 7,789.56. Trading volume was low, which can amplify swings in the market.

The selling hit a wide range of industries, from financials to energy, in an otherwise quiet day during a holiday-shortened week. The markets will be closed Good Friday.