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article imageUS stocks remain nearly unchanged

By dpa news     Aug 24, 2007 in Business
New York - US markets remained nearly unchanged, with only slight dips on Thursday. Still, ongoing concerns about the housing and mortgage markets continued to impact investors after a Countrywide Financial Corp executive said in a television interview that it "one of the greatest panics" he had seen.
Stocks fell after the interview, in which Chief Executive Angelo Mozilo said the situation may lead to a recession, Bloomberg financial news reported.
Countrywide had announced that Bank of America had bought 2 billion dollars of stock in the mortgage lender that has been hit hard by defaults in so called sub-prime mortgages - home loans to borrowers with poor credit.
Thursday's declines were led by mining companies, steelmakers and railroad firms.
The blue-chip Dow Jones Industrial Average remained nearly unchanged, slipping 0.25 points to 13,235.88. The broader Standard and Poor's 500 Index lost 1.57 points, or 0.1 per cent, to 1,462.50. The technology-heavy Nasdaq Composite Index dipped 11.1 points, or 0.43 per cent, to 2,541.70.
The US currency dropped to 73.73 euro cents from 73.82 euro cents on Wednesday. But the dollar rose against the Japanese currency to 116.17 yen from 115.37 yen.
Gold rose 1.25 dollars to 660.75 dollars per fine ounce.
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