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New York - US stocks closed lower but off earlier steep losses Monday as Wall Street focused on European political and economic uncertainty and some US earnings results missed expectations.
The Dow Jones Industrial Average sank 102.62 points to 12,926.64 in closing trade.
The broad S&P 500-stock index dropped 11.62 to 1,366.91, while the tech-rich Nasdaq slid 30.00 to 2,970.45.
"Economic concerns from around the globe have stoked a bearish mood on Wall Street," said Karee Venema at Schaeffer's Investment Research.
Wall Street joined losses in European and Asian markets on the back of disappointing April PMI data for China and the eurozone.
Chinese manufacturing activity contracted for the sixth straight month, and in the 17-nation eurozone, private-sector activity shrank the most in five months.
