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Wednesday
Apr122017

Stocks fall sharply on Wednesday

Getty Images(NEW YORK) -- U.S. stocks closed lower across the board on Wednesday as President Trump commented on the strength of the U.S. Dollar.

The Dow Jones Industrial Average slid 59.44 (-0.29 percent) to finish at 20,591.86.

The Nasdaq gave up 30.61 (-0.52 percent) to close at 5,836.16, while the S&P 500 finished at 2,344.93, down 8.85 (-0.38 percent) from its open.

Crude oil prices were 0.40 percent lower; about $53 a barrel.

President Trump told the Wall Street Journal that he thinks the dollar is “too strong” and said that he won’t label China a “currency manipulator,” backing away from a frequent campaign promise.

United Airlines: United Airlines is still working to douse the flames around a viral video showing a passenger being violently removed from an overbooked flight.  The company's CEO was initially defensive, but is now apologizing for what happened. United says everyone on board the flight will be getting a refund.

Winners and Losers: Industrial companies sank lower, with General Electric losing 1 percent and Tractor Supply Company falling 8.3 percent.

Consumer goods moved higher, with PepsiCo gaining 1.7 percent.

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