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Dow tumbles 307 points

Friday, July 19, 2002 | 11:15 a.m.

NEW YORK -- News of a government investigation at Johnson & Johnson gave Wall Street another reason for a selloff today, and the Dow Jones industrials fell more than 300 points -- well below their post-terrorist attack low.

The losses were compounded by selling due to a reconfiguration of the Standard & Poor's 500 index, as well as the expiration of some index and stock options.

By early afternoon EDT, the Dow was down 307.92, or 3.7 percent, at 8,101.57. That was 134.24 points below its Sept. 21 finish of 8,235.81.

Broader stock indicators, which have been trading below their Sept. 21 lows for a while, also retreated. The Nasdaq composite index fell 30.06, or 2.2 percent, to 1,326.89, and the S&P was off 25.64, or 2.9 percent, at 855.92.

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