US STOCKS SNAPSHOT-Wall Street drops more than 2 pct

NEW YORK Wed Nov 7, 2012 11:01am EST

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NEW YORK Nov 7 (Reuters) - U.S. stocks extended losses, with all three major stock indexes dropping more than 2 percent and the S&P 500 falling below 1,400 for the first time since Sept. 4 on Wednesday, a day after the re-election of President Barack Obama, as comments by European Central Bank President Mario Draghi weighed on sentiment.

The Dow Jones industrial average was down 292.25 points, or 2.21 percent, at 12,953.43. The Standard & Poor's 500 Index was down 31.18 points, or 2.18 percent, at 1,397.21. The Nasdaq Composite Index was down 69.60 points, or 2.31 percent, at 2,942.33.


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DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.