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Stocks Fall On Fed, Terror Fears
1The Nasdaq sank 1.3% after new economic data raised fears of more rate hikes. Terror anxieties also hurt. The S&P 500, mid-cap S&P 400 and the Dow all lost 0.9%, while the small-cap S&P 600 shed 1%. Most sectors declined. The 2-year and 10-year Treasury yields edged lower ahead of Friday's jobs report. More on this page, B2
Productivity, Jobless Claims Fall
2Productivity fell at a 0.6% annual rate, the worst in 5 years. Unit labor costs rose 3.5%, the most in a year. Productivity gains remain strong vs. a year before. Meantime, jobless claims fell 11,000 in the Jan. 26 week to 273,000, the 3rd straight sub-300,000 reading. The 4-week average fell to 284,500, the lowest since June '00. The data stoked wage-inflation fears. More on this page, A2
Boehner Elected Majority Leader
3House GOP members elected Rep. John Boehner of Ohio to replace indicted Tom DeLay as their majority leader. The vote, in the midst the party struggles with ethics scandals, was a rebuke to the current leadership -- acting Majority Leader Roy Blunt, R-Mo. finished a close second. But members didn't want to radically upset the status quo on Capitol Hill either. More on this page
Retailers Had Sunny Jan. Sales