Stocks Fall on Manufacturing Weakness
Stocks closed lower Thursday as weaker-than-expected reports on Philadelphia-area manufacturing and the Conference Board's gauge of leading economic indicators stoked worries the economy may be falling into a recession. Investors also weighed reports on first-time unemployment filings and leading economic indicators. Bonds surged in a rebound from Wednesday's slide. Gold and platinum futures hit record highs, while crude oil moved below the $100 mark.
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