US stocks fell in choppy trading on Thursday, with the S&P 500 on track to fall for a third day, as Wal-Mart Stores Inc reported disappointing results and investors feared the "fiscal cliff" will harm the economy. Stocks have struggled recently to hold onto even slight gains, such as on Wednesday when they opened higher but ended down more than 1 percent.
Despite the recent decline, the S&P 500 is up 7.5 percent so far this year, though at its 2012 peak the benchmark index was up about 17 percent. Wal-Mart fell 4 percent to $68.50 after reporting third-quarter revenue that missed expectations. The company said economic conditions pressured customers' spending. Target Corp rose 1.5 percent to $62.32 after it reported a profit that beat expectations.
The Dow Jones industrial average was down 59.53 points, or 0.47 percent, at 12,511.42. The Standard & Poor's 500 Index was down 6.27 points, or 0.46 percent, at 1,349.22. The Nasdaq Composite Index was down 16.53 points, or 0.58 percent, at 2,830.28.
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