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US stocks fall in cautious pre-Fed trade

Sep 11 2012 07:55
AFP

New York - US stocks fell on Monday as investors took a breather from last week's multi-year highs and looked ahead to this week's Federal Reserve meeting for signs of new support for the tepid economy.

The stock indices accelerated opening losses to finish firmly in the red.

The Dow Jones Industrial Average was down 51.80 points at 13,254.84 in closing trade.

The S&P 500, a broad measure of the markets, dropped 8.76 to 1,429.16, while the tech-heavy Nasdaq shed 32.40 at 3,104.02.

Wall Street was trading "in cautious action ahead of Thursday's conclusion of the two-day monetary policy meeting by the Federal Reserve, with Friday's lackluster domestic labor report boosting expectations that the central bank will announce further economic stimulus measures," Charles Schwab & Co. analysts said.


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