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US STOCKS-Weak economy drives Nasdaq, S&P down over 6 pct

Mon Dec 1, 2008 12:48pm EST

(Updates to show Nasdaq and S&P down more than 6 percent)

Stocks  |  Global Markets

By Ellis Mnyandu

NEW YORK, Dec 1 (Reuters) - U.S. stocks tumbled on Monday, with the S&P sliding more than 6 percent, as news pointing to the deepening economic slump around the world punctured last week's market enthusiasm, with financial services companies and retailers among Wall Street's biggest casualties.

The Dow Jones industrial average .DJI slid 450.41 points, or 5.10 percent, to 8,378.63. The Standard & Poor's 500 Index .SPX dropped 55.12 points, or 6.15 percent, to 841.12. The Nasdaq Composite Index .IXIC lost 95.50 points, or 6.225 percent, to 1,440.07. (Reporting by Ellis Mnyandu; Editing by Jan Paschal)

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