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Stocks fell globally on Monday as investors priced in new political risks from Italy. The euro was dragged lower by the standoff between Rome and Brussels over Italy's budget proposals, which worsened the global sentiment and stock indices fell sharply. The German DAX was 1.5% lower during the US session, while US indices opened more than 0.5% weaker. However, the Nasdaq dropped 1.5% amid the bloodbath in Apple as the Iphone maker decline below the psychological level of 200 USD, which triggered some stop losses and pushed the whole Nasdaq lower.

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