US markets retreated, paring a global rally, as financial shares fell on growing skepticism that the Federal Reserve's plan to buy bonds will revive the economy. US Financial Index declined 8%, after rallying nearly 60% in the last 2 weeks.
The Dow Jones Industrial Average fell 1.15% or 85.78 points, to close at 7,400.80. The NASDAQ Composite shut shop at 1,483.48, down 7.74 points or 0.52%. The S&P 500 lost 10.31 points or 1.30%, to 784.04. These indices witnessed profit booking after rallying nearly 17.5% in the past seven sessions, its best seven-day gain since 1939.
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