Stocks drop after 2Q GDP growth slows
By Associated Press
Friday, July 30, 2010 -
Friday, July 30, 2010 -
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ShareNEW YORK — Stocks fell and interest rates rose in the Treasury market Friday after the government said the economy grew at a slower pace than expected during the second quarter.
The Commerce Department said the gross domestic product, the broadest measure of the economy, grew at an annual pace of 2.4 percent from April to June. That’s less than the 2.5 percent economists polled by Thomson Reuters had forecast.
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