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U.S. Markets Fall Sharply on Friday

On Friday, U.S. markets fell sharply, which hurt profits suffered earlier this week. This result followed Republican proposal to avoid fiscal cliff did not find support, dampened hopes for a budget deal before 2012 ends.
After falling as much as 189 points, the Dow Jones Industrial Average fell 120.88 points, or 0.9%, at 13,190.84, a level that has it's up 0.4% from week-ago close. All but two of the 30 components of the Dow Jones ended down.
Getting weekly rise 1.2%, the S & P 500 Index lost 13.54 points, or 0.9%, at 1,430.15, with consumer stocks hardest hit among its 10 major sectors. NASDAQ index retreated 29.38 points, or 1%, in 3021, leaving it up 1.7% on the week. For every stock rising, more than three falls in New York Stock Exchange, where nearly 1.9 billion shares traded. Composite volume topped 4.8 billion.
Friday's economic data was positive, especially an increase of 0.7% in November in orders for durable goods, according to Johnson. The fiscal-cliff concerns found their way into the consumer sentiment gauge, which fell in December. The University of Michigan consumer-sentiment index Thomson Reuters declined to December's reading of 72.9, the lowest level since January.
House Speaker John Boehner on Friday told members of the House Senate and President Barack Obama must continue to work to prevent a fiscal cliff looming tax hikes and spending cuts.
In Europe, Britain's top shares fell on Friday after a choppy session due to concerns over the U.S. budget negotiations take its toll on investor sentiment. The FTSE 100 index fell 18.35 points, or 0.3%, to 5,939.99, after losing as much as 1.1% after the United States rejected a proposal by Republican Party leader John Boehner aimed at winning concessions from President Barack Obama in a speech.
UK benchmark index ended weeks back in high visibility nine months of 5,977.82 hit on Wednesday, in a sign that investors take into account agreement will be hammered out. UK banking stocks were among the stocks that declined on Friday, down 0.5%, after a parliamentary report warned the sector may need stricter regulations.

The bank also indicated that to meet the liquidity needs to keep put in the FTSE 100 index, ENRC had to make a share placement in 2013, raising funds, but also weigh on the share price in the near future.
 Currency - Euro Down on Fiscal Cliff News (EUR / USD)
On Friday, he was not the euro fell in early trading as traders were rattled by deadlock 'fiscal cliff', looking for a safe haven. UK third-quarter growth was revised lower, and officials say the fourth quarter may end up too weak, low briefly sent the British pound.
The dollar rose against major currencies related to growth on Friday after talks to resolve the stalled U.S. budget crisis, sparking fears the world's biggest economy could be tipped into recession.
The dollar, however, behind the yen, as' traders cut large short positions against the safe-haven Japanese currency after the Bank of Japan this week to increase its asset purchase program by less than some had expected.
Dollar and yen, most liquid currency, tend to demand long as a result of U.S. budget talks remains unclear. Profits can be exacerbated in thin market conditions before the end of the year.
The dollar index rose 0.20% to 79.405, with short-term resistance at an average of 200-week moving around 79.50. The dollar rose significantly to growth-related currencies such as the Australian dollar and New Zealand.
The dollar was down 0.4% at 84.05 yen, well below the most recent 20-month high 84.62 yen. The yen also gained against the euro, with the single currency down 0.5% at ¥ 111.165. Concerns over the budget impasse also affects the EUR / USD, with it trading down 0.3% at $ 1.3200.


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