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Stocks close lower for fifth day straight

Published 07/12/2012, The Jamestown Sun

The stock market mostly recovered from an afternoon slump to end with slight losses. In minutes from their latest meeting released Wednesday afternoon, Federal Reserve officials said they saw a variety of threats to the U.S. economy, including a slowdown in China and a looming budget crunch in Washington. The Fed also didn’t signal that new steps to stimulate the economy were on the way.

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