STOCKS DROP...Pete Anderson, AMEX on 3rd big drop

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U.S. Stocks plunged today on word the economic crisis in Russia is deepening. The Dow Jones industrial average dropped 357 points, its third biggest point loss in history. In the broader market, declining issues swamped advances three to one on heavy volume of 940 million shares on the New York Stock Exchange. Wall Street took its direction from overseas stocks, which woke up to find that Russia's financial crisis took on a more political bent as pressure mounted for President Boris Yeltsin to quit. Ruble trading was also suspended for the second successive day. The Russian market plunged 20 percent, and the selling spilled over to other markets. Pete Anderson with American Express Financial Advisors in Minneapolis says events in Russia compound an already bad situation internationally, but he also says he considers today's activity a correction, and not the beginning of a bear market: | D-CART ITEM: 8987

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