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Stocks fall after economic data disappoints
Stocks fall after economic data disappoints

U.S. stocks sank in midday trading Friday following a report that the economy shrank in the first three months of the year. The revised data, published early Friday, showed that U.S. gross domestic product contracted 0.7 percent in the first quarter. That was worse than the government's initial estimate of growth of 0.2 percent. KEEPING SCORE: The Dow Jones industrial average lost 98 points, or 0.6 percent, to 18,027 as of 12:19 p.m. Eastern. The Standard & Poor's 500 index lost eight points, or 0.4 percent, to 2,113 and the Nasdaq composite lost 13 points, or 0.3 percent, to 5,084. OTHER BAD DATA: Investors also had two other disappointing pieces of economic news to work...

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