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Dow Drops 150 in Early Trading

September 3, 2002

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NEW YORK (AP) _ Stock prices have started lower on Wall Street following the downward trend seen on global markets. The Dow Jones industrial average is down more than 150 points. Decliners outnumber advancers by about 3-1 on the New York Stock Exchange.

The Nasdaq Composite Index is down 19 points and the Standard & Poor’s 500 Stock Index has lost 12 points.

Wall Street is starting the month of September on a sour note.

Stocks are following declines in overseas equities markets today.

The Dow wrapped up August with a seven-point loss Friday. For the month the blue-chip average lost a little more than 70 points, making August the fifth straight down month for the Dow.

Bond prices are moving solidly higher today as stock prices slide.

Coming up at 10 a.m. EDT, the Institute for Supply Management will release its latest survey of activity in the manufacturing sector.

Tokyo’s main market index today closed at its lowest level in nearly two decades, and Europe’s key averages have been down sharply as well.

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