Wall St opens lower after 3% rally

Wall St opens lower after 3% rally

New York: US stocks opened lower on Friday as investors booked profits a day after a powerful rally that propelled the S&P to close above its 200-day moving average for the first time since August.

On Thursday, the market soared 3% after a long-awaited agreement was struck to help contain Europe’s two-year debt crisis. The S&P 500 is up more than 13% this month, on pace for its biggest monthly gain since October 1974.

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