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U.S. stocks fell on Monday after Asia and Europe stocks markets fell sharply, as U.S. non-manufacturing activity slowed down.
In the closing trading, the Dow Jones Industrial Average was down 63.69, or 0.53 percent, to 12,050.41. The Standard & Poor's 500 index lost 13.05, or 0.94 percent, at 1,374.12, and the Nasdaq composite index shed 27.32, or 1.15 percent, to 2,340.68.
Continuing the recent pattern of mixed economic signals, the ISM's index of non-manufacturing activity for February fell nearly5 points from an 8-month high to 54.3. That is the lowest reading for this index since April 2003, the Institute for Supply Management reported on Monday.
"The deterioration in the overall assessment of business conditions facing non-manufacturing businesses was evident in more narrowly focused gauges of various dimensions of activity," said David H. Resler, chief economist of Nomura International.
U.S. stocks showed their worst week in four years last week, following eight straight months of stock gains. For the week, the Dow fell 4.22 percent, the S&P 500 lost 4.42 percent and the Nasdaq fell 5.85 percent. ??
Editor: Yan
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