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Stocks close lower despite Fed report showing economic growth

JaysonPhotography/iStock/Thinkstock(NEW YORK) -- A bad day for the Dow pushed the stock markets lower on Wednesday for the second consecutive day.

The Dow Jones Industrial Average dropped 118.79 to a close of 20,404.49.

The Nasdaq gained 13.56, closing at 5,863.03, while the S&P 500 ended the session at 2,338.17, 4.02 lower than it opened.

The latest report from the Federal Reserve showed the economy growing in all 12 districts. The latest Beige Book also laid out figures that represent expanding employment nationwide.

This year's college graduates will likely take on a lot of student loan debt. The Census Bureau says starting salaries are the same as they were in 2008, and in some cases are even lower.

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