Wednesdays afternoon trade: Wall Street slips

Posted by 7Star Thursday, March 26, 2009

US stocks retreated on Wednesday as technology shares fell after news IBM is planning layoffs and a disappointing Treasury note auction raised concerns of flagging foreign interest in US government debt, which could bode poorly for the economy. The news overshadowed an early rally after unexpected increases in home sales and orders for durable goods fuelled hopes the economic downturn may have found a bottom.

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