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01 November, 2009

World markets fall after weak US consumer report

Excite News - World markets fall after weak US consumer report: "Global stock markets dropped [recently] as more signs American consumers were struggling undermined hopes for a stronger turnaround in the world's largest economy.

Major Asian markets fell by about 1.5 percent or more, with European shares shedding about 1 percent in early trade. Oil prices dropped below $79 a barrel, while the dollar weakened against the yen.

The losses followed another choppy session on Wall Street, where an unexpected drop in consumer confidence gave investors few reasons to venture further into a market that's run massively higher in the last eight months..."

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