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American Economic Crash 2007

Dow Jones Dumps

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July 26, 2007

Anxiety increased after the Commerce Department
reported that sales of new homes
fell 6.6 percent last month
to a seasonally adjusted annual rate of 834,000 units,
more than triple
what had been expected . . .

Traders also weighed a mixed batch of

second-quarter earnings reports

from major names like Ford Motor Co. and Exxon Mobil Corp. . . .

— weighed heavily on the market.