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Wednesday, January 11, 2012

U.S. Stocks Fall as Europe Threatens Growth


U.S. stocks fell, snapping a two-day advance for the Standard & Poor’s 500 Index, amid concern that Europe’s debt crisis will stifle global economic growth.

Nine out of 10 groups in the S&P 500 fell as energy shares had the biggest decline. Microsoft Corp. (MSFT) lost 0.5 percent after saying industrywide sales of personal computers will probably be lower than analysts projected. Urban Outfitters Inc. (URBN) tumbled 19 percent as its chief executive officer resigned. Supervalu Inc. (SVU) sank 10 percent as earnings missed estimates.

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