Stocks Close with Sharp Losses

Disappointing news on corporate profits and fears of a consumer spending slowdown sent the indexes to five-month lows

Stocks tumbled for a second straight day Thursday as investors fretted about a number of things: prospects for slowing consumer spending, uninspiring guidance from Apple Computer (AAPL ), and concern over economic growth and corporate earnings. Major indexes sank to five-month lows, accompanied by heavy trading volume.

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