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Bush-onomics -- The supply-side doctrine ... 20 years later -- By Martin Wolk, MSNBC.com

Stocks slide
After three straight days of gains that pushed markets to their highest levels of the month, the Dow and Nasdaq closed with losses Wednesday. • FULL STORY

MORE TOP BUSINESS NEWS
• May agrees to buy Marshall Fields
• House blocks $10B Accenture deal

AP file, Getty Images file

ALSO IN THE NEWS

• When technology fails the insured

• Former Symbol CEO declared a fugitive

• Olson rebuffs FCC on competition rules

• Paris wants SUVs to keep off-road

• Coke's No. 2 executive to step down

LUNCH BREAK

• June 10: Billionaires under 40

U.S. BUSINESS NEWS

• MAY TO BUY MARSHALL FIELDS FOR $3.24 BILLION
May Department Stores Co. , parent of Lord & Taylor and David’s Bridal, said Wednesday it agreed to acquire Target Corp.’s Marshall Field’s department stores for about $3.24 billion in cash.

• Bush-onomics in a post-Reagan world• Clear Channel to pay record FCC indecency fine

CORPORATE SCANDALS

• FORMER SYMBOL CEO DECLARED A FUGITIVE
The indicted former CEO of Symbol Technologies was declared a fugitive Wednesday after his lawyer told federal prosecutors the executive would not return to the U.S. to face arraignment.

• Spitzer won't settle Grasso suit• Lea Fastow ordered to report to prison

STOCKS & ECONOMY

• PROFIT-TAKING WEIGHS ON WALL STREET
Stocks fell Wednesday after three days of gains, as investors digested the idea that interest rates might rise significantly more than expected when the Federal Reserve meets later this month.

• Wholesale inventories fall unexpectedly in April• Fed ready to raise rates, Greenspan says

HOW WE EAT

• KRAFT DEALS TO USE 'SOUTH BEACH' TRADEMARK
Kraft Foods Inc. said Wednesday it has struck a deal with South Beach Diet author Dr. Arthur Agatston to use the South Beach trademark to promote some foods.

• A warrior against biotech's global plans• FTC settles with KFC over ads

AUTOMOTIVE NEWS

• MIAMI DRIVERS SUE SHELL OVER BAD GAS
Lawyers for motorists with broken gas gauges will seek more than $100 million in damages from Shell and its refiner Motiva Enterprises for repairs, insurance claims and lost time blamed on high-sulfur gasoline pumped in May.

• Paris wants SUVs to keep off-road• Gas prices seen easing later in summer

FINANCIAL TIMES

• CONOCOPHILLIPS EYES A STAKE IN LUKOIL
ConocoPhillips is eyeing a stake in Lukoil, Russia's largest oil company, people close to both companies say.

• MGM Mirage launches bid for Mandalay• FT: Microsoft to appeal EU decision• Visa delays costing U.S. firms billions• Sony asks MGM to extend merger talks

INT'L BUSINESS NEWS

• RUSSIAN TYCOON TO FACE TRIAL JUNE 16
The crisis around Russian oil major YUKOS appeared to head for a showdown on Tuesday, after a Moscow court set a date for main shareholder Mikhail Khodorkovsky's trial on tax evasion and fraud charges.

AP file

• EU renews probe of Intel• Executives predict more overseas bank deals

MARKET INDICES

INDEX	LAST	CHANGE	% CHANGE
• DJIA	10368.44	-64.08	-0.61%
• NASDAQ	1990.61	-32.92	-1.63%
• S&P; 500	1131.33	-10.85	-0.95%
• Russell	568.58	-9.33	-1.61%
• DJTA	3028.23	-44.17	-1.44%
• DJUA	270.50	-2.77	-1.01%
• 10-year	99.53	-0.34	-0.34%

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Data: MSN Money and IDC Comstock delayed 20 min.

MSNBC.com SPECIAL REPORT

•	Calculating risk vs. rewards

SPECIAL COVERAGE

•	'No way, no how' Spitzer will settle
•	Grasso, Spitzer ready to deal?
•	Spitzer confident of winning Grasso case
•	Langone won't settle Grasso suit
•	Grasso's unindicted co-conspirators
•	Spitzer accused of playing politics
•	Spitzer sues Grasso, NYSE
•	Newsweek: Grasso plans counter move

Martin Wolk: Eye on the Economy

• BUSH-ONOMICS IN A POST-REAGAN WORLD
The death of former President Reagan has triggered fresh debate over an economic legacy that has inspired a generation of policy-makers, including many behind President Bush’s "supply side" strategy of cutting taxes to boost growth.

MSNBC.com

• Job growth surges for third straight month• Seeking change in the Philippines• Hyundai climbs up car quality list• The maestro of monetary policy

THE ANSWER DESK

When is a recession not a recession? Why are interest rates so low? And Who is Fannie Mae?
MSNBC.com answers your questions

FREE VIDEO

• Latest market news
June 9: Investors cash in, markets drop; Clear Channel settles with the FCC; Coke's COO steps down

MSNBC.com

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