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SEarly Fourth Quarter Losses Continue
Stocks declined for the second week in a row. The start of the third-quarter earnings report season has been lackluster. The fear is that the economy is weakening as evidenced by the number of corporations posting poor third quarter earnings and cautious outlooks for future quarters. Scores more reports come out over the next two weeks.
Over the past week, large-cap stocks declined 1% on average, with small caps faring even worse. Foreign stocks declined well over 1% due to worries over the as yet unknown effects of the British leave taking from the European Union (Brexit).