U.S. stocks pull back after Monday's rally

09:01, May 12, 2010      

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U.S. stocks pulled back in early trading on Tuesday as the initial euphoria over the European 1-trillion rescue package waned.

Major indexes booked their best gains in more than a year on Monday after European leaders agreed to provide a huge rescue package of nearly 1 trillion dollars to aid the debt-laden countries, giving investors great relief.

The market cooled down one day after the big rally as some analyst pointed out the rescue package only addresses the short-term needs in stead of solving the underlying problems.

The Dow Jones industrial average fell 65.68, or 0.61 percent, to 10,719.46. The Standard & Poor's 500 index dropped 8.17, or 0.70 percent, to 1,151.56 and the Nasdaq was down 19.27, or 0.81 percent, to 2,355.40.



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