Wall Street ends lower on profit-taking

Wall Street ends lower on profit-taking
AP
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First Published: Tue, Jan 06 2009. 08 58 AM IST
Updated: Tue, Jan 06 2009. 08 58 AM IST
New York: Caution has returned to Wall Street as investors collected some profits after last week’s huge rally even as they find encouragement from President-elect Barack Obama’s calls for an economic stimulus package.
The Dow Jones industrials have closed down 81 points, or 0.91% at 8,952. Broader indexes ended with more modest declines.
The rally of the past three sessions made the pullback unsurprising. Investors are still wary amid so much economic uncertainty.
Monday has been the first real test of Wall Street in 2009 after the light holiday trading last week, which helped widen the price swings in the market.
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First Published: Tue, Jan 06 2009. 08 58 AM IST
More Topics: US | Dow Jones | Stocks | Obama | Economy |