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US stocks drop amid warnings of a pullback

Published on Jul 8, 2014 6:13 AM

NEW YORK (AFP) - US stocks fell on Monday, retreating from last week’s records as analysts pointed to profit taking and to predictions from some experts that the market was due for a pullback.

The Dow Jones Industrial Average fell 44.05 points (0.26 per cent) to 17,024.21.

The broad-based S&P 500 dropped 7.79 (0.39 per cent) to 1,977.65, while the tech-rich Nasdaq Composite Index declined 34.40 (0.77 per cent) to 4,451.53.

Some market watchers expressed nervousness at the latest surge in equity prices that last week lifted the Dow above 17,000 for the first time.

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