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US stocks end lower after banking scare in Portugal revives fears of European debt crisis

NEW YORK, N.Y. - U.S. stocks are ending lower as fears about the health of a European bank weigh on the market.

The Dow Jones industrial average fell 70 points, or 0.4 per cent, to finish at 16,915 Thursday. The Standard & Poor's 500 index slipped eight points, or 0.4 per cent, to 1,964. The Nasdaq was off 22 points, or 0.5 per cent, at 4,396.

U.S. markets were hit by earlier stock losses in Europe, where worries over the finances of one of Portugal's largest financial groups slammed stocks and pushed investors into safer assets such as government bonds and gold.

Eight of the 10 industry groups in the S&P 500 fell.

The yield on the 10-year Treasury note edged lower to 2.54 per cent from 2.55 per cent late Wednesday. Yields fall when demand for bonds rises.

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