MARKETS-USA-STOCKS
JANUARY 22 2009 15:59h
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The number of workers filing new claims for jobless benefits rose by more than expected last week.
* Microsoft Corp <MSFT.O>, reporting earlier in the day than scheduled, showed quarterly results that were below expectations and said that it would cut up to 5,000 jobs over the next 18 months. For details, see [ID:nN22530524] Shares fell 7.9 percent to $17.85.
* The number of workers filing new claims for jobless benefits rose by more than expected last week, while housing starts and permits fell to a record low in December, data showed. [ID:nN22525475] [ID:nN21489514].
* The Dow Jones industrial average <.DJI> fell 121.39 points, or 1.48 percent, at 8,106.71. The Standard & Poor's 500 Index <.SPX> slid 13.52 points, or 1.61 percent, at 826.72. The Nasdaq Composite Index <.IXIC> dropped 40.29 points, or 2.67 percent, at 1,466.78.
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