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Wall St extends losses, Dow slides 1 percent

by FP Staff  Dec 29, 2012 03:00 IST

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NEW YORK (Reuters) - U.S. stocks extended their losses on Friday, with the Dow falling 1 percent as President Barack Obama and top lawmakers met in a last-ditch attempt at a budget deal to prevent the United States from going over the "fiscal cliff."

The Dow Jones industrial average tumbled 125.33 points, or 0.96 percent, to 12,970.98. The Standard & Poor's 500 Index fell 11.66 points, or 0.82 percent, to 1,406.44. The Nasdaq Composite Index lost 16.81 points, or 0.56 percent, to 2,969.09.

(Reporting by Ryan Vlastelica; Editing by Jan Paschal)