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Wall Street drops as global economy fears rise

US stocks retreated at the close as manufacturing data overseas raised fresh fears of slowing economic growth, while a disappointing Black Friday weekend weighed on US retailers. Meanwhile, shares of many oil-related stocks continued to fall, even as crude oil prices staged a sharp rebound. At the closing bell, the Dow Jones Industrial Average fell 51 points, or 0.3 per cent, to 17,777. The S&P 500 index fell 14 points, or 0.7 per cent, to 2053, while the Nasdaq Composite Index shed 64 points, or 1.3 per cent, to 4,727. The slide in US stocks comes on the heels of losses in markets globally. European stocks extended earlier losses, with the Stoxx Europe 600 index declining 0.5 per cent….