Dow Closes Down Almost 200 Points

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NATIONAL

Inflation fears sent stocks plunging Monday as jitters over high oil prices exacerbated signals that the Federal Reserve will keep lifting interest rates to contain price increases. The Dow Jones industrial average sank nearly 200 points.


According to preliminary calculations, the Dow plunged 199.15, or 1.77 percent, to 11,048.72. Broader stock indicators also slumped. The Standard & Poor’s 500 index dropped 22.93, or 1.78 percent, to 1,265.29; the Nasdaq composite index fell 49.79, or 2.24 percent, to 2,169.62, falling into negative territory for 2006.






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LOCAL


Electronic Clearing House Inc. rose 8.7 percent to $15.54. Hi-Shear Technology Corp. gained 8.5 percent to $11.09. EMAK Worldwide Inc. added 8 percent to $6.50. Southwest Water Co. rose $5.5 percent to $13.93. Maguire Properties Inc., which rose 5 percent to $34.51, was among several REITs gaining from the announcement that Trizec Properties Inc. was being acquired in a deal valued at $8.9 billion.


Ryland Group Inc. dropped $8 percent to $45.50. MRV Communications ionc. was down 7 percent to $3.11 21st Century Insurance Group fell 6.9 percent to $14.21. PC NMall Inc. lost 6.3 percent to $6.11. Ameron International Corp. was down 5.8 percent to $55.05. Homestore Inc. fell 5.6 percent to $5.50.

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