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US: Stocks fall as global growth fears weigh

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[NEW YORK] Wall Street stocks tumbled Tuesday, joining most European and Asian markets in retreating on fears of weakening global growth.

Analysts said sentiment was marred by lackluster Chinese manufacturing data and a downgrade to eurozone growth projections by the European Union. Stocks were further burdened by a drop in prices for oil and other commodities.

"Concerns about global growth are at the forefront of the investors thinking right now," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.

The Dow Jones Industrial Average lost 0.8 per cent at 17,750.91.

The broad-based S&P 500 fell 0.9 per cent to 2,063.37, while the tech-rich Nasdaq Composite Index dropped 1.1 per cent to 4,763.22.

AFP