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Weak forecast on Asian economy sends stocks lower

Associated Press Modified: October 8, 2012 at 12:01 pm •  Published: October 8, 2012

Stocks and industries that depend most heavily on U.S. economic growth were among the biggest losers on Monday. Apple fell $13.07 to $639.60 and Intel fell 22 cents to $2.46. Home Depot fell $1.03 to $62.17 and Walt Disney lost 8 cents to $52.17.

Wal-Mart Stores and American Express shares didn't move much after they announced a reloadable prepaid card with no recurring or overdraft fees. But the news hammered shares of prepaid card competitor Green Dot Corp., which has also offered a card with Wal-Mart. Green Dot fell $2.57, or 20 percent, to $10.28.

UnitedHealth Group rose 41 cents to $57.54 after the health insurer said it would pay $4.9 billion in cash to buy most of Brazilian health benefits and hospital services provider Amil Participacoes.

Truck and engine maker Navistar rose $1.70, or 8 percent, to $22.91 after saying it will add two board members associated with activist investors, heading off a proxy battle.

European markets were also lower. The CAC-40 in France fell 1.5 percent, the FTSE 100 in Britain was down 0.5 percent, and the German DAX was down 1.4 percent.

U.S. government bond trading was closed for the Columbus Day holiday.