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Wall St. sinks at the open

Weak economic reports and records for oil and gold send investors out of stocks.

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NEW YORK (CNNMoney.com) -- U.S. stocks fell at Thursday's open due to a potent mix of a weak economy and record prices for gold and oil.

The Dow Jones industrial average lost 1.1%. The Nasdaq composite index sank 1.3%. The Standard & Poor's 500 index was 1% lower.

In the news Thursday:

Retail sales: Monthly sales suffered a surprising 0.6% drop last month as American households continued to curtail their spending amid higher energy and food prices and a weakening jobs market.

Gold: Gold prices touched the $1,000 milestone for the first time ever as the dollar plunged amid fears about the health of the U.S. economy.

Oil: Oil prices soared above $110 a barrel as investors looked to commodities as a safe haven against the U.S. dollar's slide.

Carlyle Capital: The fund said it expects its creditors to seize all remaining assets after unsuccessful negotiations to prevent its liquidation.

AOL: The Internet arm of Time Warner (TWX, Fortune 500), parent of CNNMoney.com, said it will pay $850 million in cash to acquire social media network Bebo, which has total global membership of more than 40 million. To top of page

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Markets Last Change
Dow Jones 10,246.97 20.03 / 0.20%
Nasdaq 2,151.08 -2.98 / -0.14%
S&P 500 1,093.01 -0.07 / -0.01%
10-year Bond 101 6/32 Yield: 3.47%
U.S.Dollar 1 euro = $1.499 -0.001
November 10, 2009 4:04 PM ET
CompanyPrice% Change
Beazer Homes USA Inc 5.11 8.96%
Fluor Corp 44.27 -7.79%
YRC Worldwide Inc 1.10 -6.78%
ArvinMeritor Inc 9.23 6.22%
Nov 10 3:53pm ET †
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