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Stocks Slump on Worries About U.S. Broker, Europe

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks have ended October with steep losses.
Investors are worried about the collapse of the brokerage MF Global
and missing details in Europe's plan to contain the Greek debt
crisis.

Despite the losses Monday, the S&P 500 index still had its best
month since December 1991.

Bank stocks fell after MF Global filed for bankruptcy. Last week
the company's debt was downgraded to junk on concerns about its
holdings of European debt.

The Dow Jones industrial average fell 276 points, or 2.3 percent, to close at 11,955.

The S&P 500 index fell 32, or 2.5 percent, to 1,253. The Nasdaq
fell 53, or 1.9 percent, to 2,684.

Five stocks fell for every one that rose on the New York Stock
Exchange. Volume was average at 4.2 billion shares.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


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