Stocks slump after report on growth.

[moneysense]

NEW YORK - Stocks fell sharply Thursday after a reading on the economy confirmed a slowdown in the final quarter of 2007 and a weak quarterly showing from Oracle Corp. weighed on technology issues.
The Commerce Department’s gross domestic product report showed the economy grew at a 0.6 percent annual pace in the final quarter last year — unchanged from an estimate a month ago. The growth was down sharply from the 4.9 percent rate seen in the prior quarter.
Investors remain uncertain about what is in store for the economy and the troubled financial sector but the sense of panic that emanated from the near-collapse of Bear Stearns Cos. at the start of last week has lessened, observers say.

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