Wednesday, October 3, 2012

World stocks fall

World stocks fall

BANGKOK (AP) -- World stocks fell Wednesday as investors awaits the U.S. jobs report.

The U.S. Labor Department will release employment data for September on Friday. While the U.S. economy shows signs of resilience, thanks in part to rising car sales and home prices, hiring has remained too sluggish to reduce high unemployment, which is at 8.1 percent.

The U.S. economy also is at risk for falling off a "fiscal cliff" early next year. That's when tax increases and deep spending cuts take effect unless Congress reaches a budget deal. If those measures do take effect, the economy could fall into recession.

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source yahoo finance

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