China leads global markets lower in holiday trade (AP)

Traders work on the floor of the New York Stock Exchange on December 21, in New York City. Fresh data on Thursday showed the US economy limping toward the end of 2010, its fitness much improved over last year, but with the recovery still hobbled by high unemployment and weak demand.(AFP/Getty Images/File/Spencer Platt)AP – Chinese stocks led global markets lower Friday after plans were announced to sharply limit new vehicle registrations in traffic-congested Beijing, while the latest downgrade of Portugal’s credit rating kept sentiment in check in European markets.

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