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New York stocks fall on uncertainties over U.S., European economies.

NEW YORK, March 28 Kyodo

New York stocks continued falling Wednesday, with the Dow index briefly dropping more than 120 points on uncertainties over the course of the U.S. and European economies.

The 30-issue Dow Jones Industrial Average lost 71.52 points, or 0.54 percent, to end at 13,126.21. The tech-heavy Nasdaq Composite Index went down a further 15.39 points, or 0.49 percent, to 3,104.96.

Stocks faced selling as investors grew cautious about the U.S. economy on a smaller-than-expected increase in U.S. durable goods orders in February, market analysts said.

Energy and resources shares notably dropped on lower crude oil futures prices, the analysts said.

Investors also became wary about the outlook of Europe's economy as Britain's revised official data showed that the country's gross domestic product shrank by a worse-than-expected 0.3 percent in the October-December quarter, they added.
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Publication:Japan Weekly Monitor
Geographic Code:1U2NY
Date:Apr 2, 2012
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