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Markets End Lower On Asian Economy, Investors Prepare for Quarterly Reports

By: , dated October 8th, 2012
On Monday both world and US stocks were down on worries concerning China’s economic outlook and the continuing euro zone crisis. Oil prices and the euro dropped as well after the World Bank warned investors to be cautious with Asian markets and cut China’s growth expectations. The forecasted earnings will mark the first decline in three years for China. Stocks were also falling ahead of third-quarter expectations for a soft season. The tech industry was down on Monday as Apple (AAPL) and Facebook (FB) shares both dropped more than 2%. Netflix (NFLX) jumped after Morgan Stanley (MS) upgraded the company’s stock to equal weight. Focus will be on big names such as Yum Brands (YUM) and Alcoa (AA) on Tuesday as many companies begin to report earnings from the past quarter.

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