Stocks plunge anew as data points to recession

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Wednesday's sell-off began after the government's report that retail sales plunged in September by 1.2 percent — almost double the 0.7 percent analysts expected — made it clear that consumers are reluctant to spend amid a shaky economy and a punishing stock market.

Selling accelerated in the last hour of trading, a common occurrence during the eight days of heavy declines. One reason for the heavy selling: Mutual funds need to unload stock to pay investors who are bailing out of the market.

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道瓊斯工業指數收報8,577點，跌733點，跌幅7.9%，是1987年災股以來最大單日跌幅。

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