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US budget negotiations setback drives stocks down

By Sarah DiLorenzo
Published December 21, 2012 5:18pm ET
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US budget negotiations setback drives stocks down
Money traders work under flags of the United States and Japan at a foreign exchange firm in Tokyo Friday, Dec. 21, 2012. The dollar was little changed against other major currencies as traders await developments from budget talks in Washington. (AP Photo/Itsuo Inouye) | Itsuo Inouye

PARIS (AP) — A failed attempt find a compromise in U.S. budget negotiations sent global stock markets plummeting Friday, as investors feared the world’s largest economy could teeter into recession if no deal is found.

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