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The Dow and the S&P 500 slipped in a choppy session on Wall Street this morning, pressured by nervousness that the economy might be sliding into a recession.
But the tech-heavy Nasdaq pushed higher after Microsoft CEO Steve Ballmer talked about a Web search deal being possible Yahoo. Shares of Yahoo shot up 10.3 per cent to US$12.96.
Worrying news on the economic front fueled worries that even if recent moves to pump liquidity into financial markets begins to ease the credit crunch, recessionary fears remain.
The Dow Jones industrial average slipped 32.89 points, or 0.38 per cent, to 8,545.02. The Standard & Poor's 500 Index was down 7.97 points, or 0.88 per cent, at 899.87. The Nasdaq Composite Index gained 8.26 points, or 0.51 per cent, to 1,636.59.
- agencies