NEW YORK -- The market took a major hit on Friday after the Federal Reserve Board announced a slight tightening of credit. The federal funds rate, a key interest indicator, was raised to 3.25 percent from 3 percent. The Dow Jones Industrials promptly plunged 96 points. Retail stocks were spooked by sloppy January sales results. For the week, the DJ was off 1.9 percent; the WWD Stock Index fell 0.66 percent.

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