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NEW YORK Cheap King Clancy Jersey , Jan. 30 (Xinhua) -- U.S. stocks slumped after a choppy session Friday, with the three major indices notching their biggest monthly losses in a year, as the U.S. government announced the economy grew lower in the final quarter of 2014.


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The economy grew 5 percent in the third quarter and 4.6 percent in the second quarter after contracting in the first three months of the year. In the whole 2014, the economy expanded 2.4 percent, compared with an increase of 2.2 percent in 2013.


The department said the decelerated GDP growth in the fourth quarter mainly reflected an upturn in imports, a downturn in federal government spending and deceleration in nonresidential fixed investment.


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Shares of Alibaba decreased 0.81 percent to 89.08 dollars apiece Friday after the previous day's plunge on worse-than- expected quarterly earnings.


Latest data from Thomson Reuters showed that S&P 500 companies' per-share earnings in the fourth quarter are expected to grow 5.3 percent year on year, while revenue growth is forecast to increase 1.6 percent.


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