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Wall Street drops 1 percent at open on China move



    NEW YORK (Reuters) - Wall Street fell more than 1 percent at the open on Friday after China surprised global markets by increasing banks' reserve requirements, raising worries about the impact of a monetary tightening on global growth and driving investors away from risky assets.

    The Dow Jones industrial average lost 123.19 points, or 1.21 percent, to 10,021.00. The Standard & Poor's 500 Index dropped 11.83 points, or 1.10 percent, to 1,066.64. The Nasdaq Composite Index fell 22.18 points, or 1.02 percent, to 2,155.23.