An Energy Crisis

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Stocks dropped sharply last week as crude oil prices hit a new record high of $55 a barrel and earnings reports from Microsoft, Amazon and Coca-Cola disappointed investors. The Dow Jones industrial average slid 108 points, or 1.1 percent, to close at 9,758, while the Nasdaq dropped 38 points, or 2 percent, settle at 1,915. Even buoyant third-quarter earnings from Google—which said it doubled both profit and revenue from a year ago—did little to calm nervous investors.

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