Inflation And More

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Wall Street was rattled late last week by concerns about inflation, as the U.S. trade deficit swelled, putting more pressure on the dollar. The Dow Jones industrial average dropped 77.15 points, or 0.7 percent, to close Friday at 10,774.36; the Nasdaq slipped 18.12, or 0.9 percent, to 2,041.60. The jitters overshadowed potentially good tech news, as Intel said current-quarter sales would come in at the high end of previous forecasts. That did little to lift the fortunes of IPG, whose McCann WorldGroup just won the chip maker’s business.

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