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Stocks Battered Again as Investors Look for Fed Rate Cut; Dow Plunges 500 as S&P 500 Hits 5-Year Low- AP

Wall Street has had yet another dismal day, extending its heavy losses as investors’ worries about the financial sector wiped out early enthusiasm over the Federal Reserve’s efforts to inject confidence into the credit markets. Trading remained fractious and grew more turbulent in the last hour, with the Dow Jones industrial average losing more than 500 points and all the major indexes falling more than 5 percent….