Stocks Tumble on Economic Data

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NATIONAL

Higher oil prices and sliding consumer confidence sent stocks plunging Tuesday as a weak sales report from Wal-Mart Stores Inc. raised concerns about discretionary spending. The Dow Jones industrial skidded almost 185 points.


According to preliminary calculations, the Dow plummeted 184.18, or 1.63 percent, to 11,094.43, giving back all of the 180 points it gained in last week’s runup. The Dow lost 214 points on May 10, its biggest one-day decline in three years. Broader stock indicators retreated. The Standard & Poor’s 500 index dropped 20.28, or 1.58 percent, to 1,259.88; the Nasdaq composite index plunged 45.63, or 2.06 percent, to 2,164.74, falling back into negative territory for 2006.






Read the full Associated Press story

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LOCAL


J2 Global Communications Inc. dropped 10 percent to $25.46. Hi-Shear Technology Corp. fell 9 percent to $9.12. Stamps.com Inc. was down 7.8 percent to $29.75. WPT Enterprises Inc. lost 7 percent to $.97. Arrowhead Research Corp. fell 7 percent to $5.21. Cadiz Inc. was down 6 percent to $16.13. Intergroup Corp. fell 6 percent to $15.13.


Paula Financial rose 7 percent to $2.68. Natrol Inc. gained 5.5 percent to $2.29. Diodes Inc. gained 4.7 percent to $34.22. Sports Chalet Inc. added 4.7 percent to $7.85. Napster Inc. rose 3.5 percent to $3.28. Staar Surgical Co. added 3 percent to $7.75.

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