US stocks fall as deficit and jobs worries rise

THE Dow hit a seven-month low last night as increases in jobless claims and the trade deficit and a slowdown in China’s export growth spurred concern the economy may falter.

Caterpillar and United Technologies slumped at least 2.4%, pacing declines among industrial companies. Exxon Mobil and Chevron dropped at least 3% as crude oil declined a third day amid investor concern that fuel-demand will slow.

General Motors decreased 2.6% after the largest US automaker said chief financial officer Chris Liddell will leave the company next month.