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GE stock closes at 9-year low after JPMorgan warns worst yet to come

General Electric Co. shares tumbled almost 6% on Friday, closing at the lowest level since March of 2009, after JPMorgan Chase & Co. analyst Stephen Tusa slashed his stock price target to $6 from $10 and said the industrial conglomerate’s recent earnings were worse than expected on almost all fronts.

The stock got battered by its latest earnings miss and ratings downgrades from all three main credit-rating firms. Its month-to-date losses are now about 15%, and its year-to-date losses are nearly 51%, while the S&P 500 SPX, -0.92% has gained 4% this year and the Dow Jones Industrial Average DJIA, -0.77% has advanced 5%.

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