Business

Worries on fiscal cliff, Europe rule the day

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The Street went back to work after the holiday to face leftover worries­ about the fiscal cliff (a report said sudden tax hikes would crimp middle class spending) and Europe — themes ‘as recycled as Thanksgiving turkey,’ wrote David Kelly at JPMorgan Funds. Some traders cashed out last week’s gains. Utility stocks rose most; telecoms fell most.

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