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Markets Close Down Again, Causing New Worries for the Fed

Hemera/Thinkstock(NEW YORK) -- The Dow lost 49 points Wednesday to close at 12,604. The Nasdaq closed off 14 points, while the S&P gave up a fraction.

The Federal Reserve may need to take more action if the U.S. economy loses momentum. Officials worry that Congress may fail to avert tax hikes and across the board spending cuts that start at year's end.

Copyright 2012 ABC News Radio

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