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Thursday, May 6, 2010

Stocks slide on fear Greek crisis could spread

Mixed news on the U.S. labor market and retail sales weren't enough to lift stock prices Thursday as worries lingered that Greece's debt woes would spread to other parts of Europe.
The dollar's rise pushed commodities prices lower, especially oil. That sent prices of oil companies like Exxon Mobil and Chevron lower.
In economic news, Labor Department said new claims for jobless benefits fell lass than expected last week. It also said productivity rose more than expected in the first quarter, but that was due in part to a drop in labor costs, which is a negative signal for consumer spending.
Retailers post weak same-store sales.Dow drop 84 points in the morning.

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