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Monday, February 3, 2014

Stock pullback pain: Dow drop tops 312 points #dow #bear #RT #SHARE $DOW

U.S. factory data much weaker than expected

* VIX trades above 20 for first time since October

* Indexes down: Dow 1.71 pct, S&P 2.05 pct, Nasdaq 2.62 pct

Stocks were down sharply in early afternoon trading as Wall Street struggles to shake off the first down January for the Dow Jones industrial average and the Standard & Poor's 500 since 2010.Selling was broad-based, with only seven components in the S&P 500 trading in positive territory. Telecoms, down 3.2 percent and consumer discretionary, down 2.6 percent, were among the worst performing sectors. The Dow Jones Transportation average dropped 3.1 percent.

Stocks were pressured late last month by concern about growth in China and as the Federal Reserve confirmed its commitment to withdrawing its market-friendly stimulus. China's service-sector growth slowed to a five-year low in another sign of stuttering momentum
Stock pullback pain: Dow drop tops 312 points #dow #bear #RT #SHARE $DOW
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