Orange County Register

The Dow Jones Industrials fell 680 points or 7.7% to close at 8,149.09, breaking a five-day streak of gains as signs pointed to a deepening  recession.

Other market indexes fell more. The S&P 500 lost 80 points or 8.93% to close at 816.21. The Nasdaq was down 137.5 points or 8.95% to close at 1,398.07.

The bearish plunge on New York markets followed declines in Europe and Asia.

Fed Chief Ben Bernanke’s comments and concerns about consumer spending sent the market into a funk, when he said his options to fight the downturn were limited.

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Other business news …

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• 66% of O.C. shoppers buying distressed homes
• 6% of O.C. million-buck home listings are distressed
• O.C. house prices seen rising in 2013

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