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Stocks fall in sixth straight weekly loss
The Dow Jones industrial average dropped below 12,000 Friday, ending the day down 172.07 points, or 1.42%, and marking the longest weekly losing streak since the fall of 2002. Ref. USAToday
Les Hinton has resigned as chief executive officer of Dow Jones & Co. In the wake of News Corp.'s phone-hacking scandal.
Hinton headed News Corp.'s News International unit during the years the News of the World was allegedly hacking into voicemails. Dow Jones publishes the Wall Street Journal and is also owned by Rupert Murdoch's News Corp.
The move came hours after Rebekah Brooks tendered her resignation as chief executive of News International. Ref. CNN