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Profit Taking, Treasury Yield Spike Leads To Sharp Pullback On Wall Street

Following the strength seen in the previous session, stocks pulled back sharply over the course of the trading day on Friday. The major averages all showed significant moves to the downside on the day.

The major averages finished the day off their lows of the session but still firmly negative. The Dow slumped 537.29 points or 1.1 percent to 49,526.17, the Nasdaq plunged 410.08 points or 1.5 percent to 26,225.14 and the S&P 500 tumbled 92.74 points or 1.2 percent to 7,408.50.

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by RTTNews Staff Writer

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