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Stocks turn lower after consumer confidence sinks

December 27, 2012

NEW YORK -- Stocks fell Thursday, putting the market on track for its fourth straight loss, after consumer confidence fell sharply in December as Americans worried about higher taxes and government spending cuts. The Dow Jones industrial average was down 75 points at 13,018 shortly after 10:30 a.m. (1530 GMT). It was wavering between small gains and losses before 10 a.m., when the Conference Board's report came out.

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