Bluefield Daily Telegraph, Bluefield, WV

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December 27, 2012

Stocks turn lower after consumer confidence sinks

(Continued)

Treasury Secretary Tim Geithner told Congress that he would use accounting measures to try to save approximately $200 billion. But those are stopgap measures, which would keep the government from going over its borrowing limit for probably only a couple of months.

Chipmaker Marvell Technology Group dropped 4 percent after the company lost a patent case brought by Carnegie Mellon University. Marvell said it would fight the $1.2 billion ruling.

In Japan, the benchmark Nikkei 225 index rose to its highest close since March 2011. The country is preparing for the incoming, pro-business prime minister, Shinzo Abe. He has called for more public works spending to reinvigorate the economy, and measures to drag the country out of deflation, or steadily declining prices.

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