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4.05pm: Nasdaq drops nearly 3% US stocks finished the trading session sharply lower as weekly jobless claims for first-time unemployment filings unexpectedly rose last week and the producer price index (PPI) jumped by the largest amount since 2010. At the close, the Dow slipped 176 points to 36,114, while the S&P 500 eased 67 points at 4,659 and the tech-heavy Nasdaq fell 382 points to 14,807.
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