Market drops as risk appetite ebbs

 @ibtimes
on December 08 2009 4:24 PM

Stocks fell on Tuesday as 3M Co's disappointing outlook and a weak sales report from McDonald's Corp compounded investors' concerns about the outlook for a global recovery.

* The diminishing appetite for riskier assets underpinned the U.S. dollar, pushing the dollar index <.DXY> up 0.6 percent.

* The Dow Jones industrial average <.DJI> was down 104.14 points, or 1.00 percent, at 10,285.97. The Standard & Poor's 500 Index <.SPX> was down 11.31 points, or 1.03 percent, at 1,091.94. The Nasdaq Composite Index <.IXIC> was down 16.62 points, or 0.76 percent, at 2,172.99.

(Reporting by Ellis Mnyandu; Editing by Kenneth Barry)

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