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    U.S. stocks at lowest level since 1997

    Credit Writedowns (subscribe) | 5 hours ago | Finance

      Things were actually looking fairly good during midday given how horrible the credit markets (high yield, asset-backed and corporate) have become. Sure, the bank stocks sold off, but the stock market in the U.S. was holding its own after selloffs abroad. But then, all of a sudden, the bottom dropped out with the S&P 500 breaking well through 2002 lows to end at 752, its lowest level since 1997. U.S....