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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowShares in Indianapolis-based Kite Realty Group Trust hit a 52-week low this morning in what is shaping up as another rough day for Indianapolis developers and Wall Street as a whole.
Kite, which owns and develops retail properties, including Glendale Town Center, fell nearly 4 percent this morning to trade at $10.75.
Fellow local developer Duke Realty Corp. was down more than 2 percent, while Simon Property Group fell about 4 percent.
The Dow plunged more than 300 points this morning after the Federal Reserve Bank announced a bailout of insurer American International Group Inc.
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