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Wall Street declines over European debt crisis

08-17-2011 14:48 BJT

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Shares on Wall Street were unable to rally following ineffective efforts to stem the spreading European debt crisis, and the failure of Sarkozy and Merkel's meeting to ease investors concerns. That's despite positive US earnings and Fitch Rating's decision to keep the top notch credit rating for the world's largest economy.

The Dow Jones industrial average decreased about 0.7 percent to 11 thousand 405, while Standard and Poor's 500 fell about 1 percent. The Nasdaq Composite Index dropped more than 1.2 percent. But analysts say investors see more hopeful signs once they looked away from Europe, as Fitch kept its AAA rating on US debt, while the fastest industrial production in 7 months could be another boost.

Editor:Li Wanran |Source: CNTV.CN

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