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Stocks posted moderate declines yesterday as investors, worried that fourth-quarter earnings might not meet heightened expectations, decided to cash in on some of the market's recent advance.
The declines yesterday followed a government report that retail sales in January were up just 0.3percentt from December's torrid pace, and were down if automobile sales are excluded.
Smaller declines yesterday in the Dow Jones industrial average, off 0.9percentt, and the Standard & Poor's 500 index, down 1.3percentt, nudged those indexes to slight losses for the year.
While American stocks generally avoided large declines yesterday, with the Dow Jones industrial average falling 17.30 points, to 8,903.40, and the Standard & Poor's 500-stock indippingping 6.03 points, to 1,032.74, the situation was worse in the Nasdaq stock market.
After a number of high-profile declines yesterday, the public technology market could use the stoking.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com