Stocks retreat as investors fear exaggerated rally

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Global stock markets were mostly down on Tuesday, as investors were concerned that the recent rally had gone too far in a bleak economic environment.

Futures contracts linked to the S&P 500 fell 0.9%, suggesting a decline when the US markets opened. The stock index closed higher for the fifth day in a row on Monday, while the tech-rich Nasdaq hit a record.

The…

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