- The Washington Times - Monday, November 17, 2008

NEW YORK (AP) — Wall Street has finished sharply lower, off 231 points, as investors digested more signs of economic weakness, including a huge round of layoffs at a key company in the financial sector.

After a turbulent week that sent the Dow Jones industrials down nearly 340 points, investors found few positives in the latest news, even shrugging off a better-than-expected reading on industrial production. Stocks zigzagged throughout the session before finishing sharply lower.

In a signal that banks are still struggling, Citigroup Inc. is cutting another 53,000 jobs in the coming quarters. The Dow Jones industrials finished down 231 points at the 8,265 level.


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