Stocks Close Lower

The market was hit by earnings disappointments, further Middle East violence, and a weaker-than-expected report on activity in the services sector

Stocks dropped on Wednesday after a string of companies warned about profits, and newly-released economic data raised doubts about the strength of the U.S. economy's recovery. Tensions continued to rise in the Middle East, fanning fears that the turmoil there could disrupt world oil supplies.

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