July 27, 2011
Specialist Michael Pistillo, left, calls out prices Wednesday as he works at his post on the floor of the New York Stock Exchange.
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The economy worsened in much of the country earlier this summer, according to a Federal Reserve survey, because of high unemployment, weak home sales and signs of a slowdown in manufacturing.
Anxiety about a deadline to raise the nation’s debt ceiling swept across Wall Street on Wednesday and drove the Dow Jones industrial average down almost 200 points. With Washington showing no sign it will find a solution, financial planners around the country said their clients were increasingly worried.
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