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FILE - Trader Richard Scardino, left, works on the floor of the New York Stock Exchange, in this Dec. 14, 2012 file photo taken in in New York. World stock markets faced resistance Thursday Dec. 20, 2012 after talks turned sour among U.S. political leaders trying to reach an agreement over how to avert an economically disastrous "fiscal cliff" before the end of the year. A downturn in U.S. housing starts also hurt sentiment. (AP Photo/Richard Drew, File)