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Tuesday, September 25, 2012

Global growth fears weigh on stocks (ext.CNN)

NEW YORK (CNNMoney) -- U.S. stocks were under pressure Monday, as persistent pessimism over the global business climate weighed on markets.

"Fear is creeping back into the global marketplace," said Peter Cardillo, chief market economist at Rockwell Global Capital. "But markets are still near their highs. And the underlying factor is that QE3 has put a floor in the markets, so any cautious trading is going to be limited."

The Dow Industrial Average, S&P 500 and Nasdaq closed between 0.1% and 0.6% lower.
Investors reacted early Monday to a report that showed Germany's business climate index falling to its lowest level since February 2010.

This dragged on the euro and European markets, which closed between 0.2% and 1% lower. The dollar gained versus the euro, which is near a two-week low.

Commodities: Oil for November delivery fell 96 cents to $91.93 a barrel.

Gold futures for December delivery fell $13.60 to $1,764.40 an ounce.

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