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NEW YORK — Stocks of the biggest advertising holding companies took a beating Wednesday, with Omnicom down 4.42, or 7.8 percent, at 52.28; WPP Group off 1.63, or 4.7 percent, at 32.82, and Interpublic Group of Cos. down 1.54, to 15.41 for a 9 percent loss. The Dow Jones Industrial Average and Nasdaq Composite Index were off about 2 percent.
Several observers pointed to a Dow Jones Newswire story published in the afternoon that blamed investor skittishness on bad earnings news from two small marketing companies.
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