NEW YORK (TheStreet) -- The major U.S. stock averages continued this week's losing streak after the latest data on the employment picture and manufacturing activitiy disappointed investors.
A poor outlook from retailing giant Wal-Mart Stores (WMT) also contributed to the negativity. The selling pressure extended the recent weakness in equities as worries about the fiscal cliff and the eurozone's stability contribute to mounting pessism about the global economic picture.
The Dow Jones Industrial Average fell more than 28 points, or 0.23%, to close at 12,542 in a choppy day of action. The blue-chip index has now fallen in four straight sessions and in six of the past seven days.
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