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January 31, 2023

Stocks take big tumble

AP Business Writer

NEW YORK — Stocks sank Monday as Wall Street prepped for a week full of potentially market-moving events, from decisions on interest rates around the world to earnings reports from the biggest U.S. companies.

The S&P 500 dropped 1.3%, giving back some of the gains that had carried it last week to its highest level since early December. The Dow Jones Industrial Average fell 260 points, or 0.8%, while the Nasdaq composite sank 2%.

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