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Stocks Fall Sharply on Oil, Fannie Mae  NEW YORK (Reuters) - Stocks fell sharply on Wednesday after  oil prices climbed above \$48 a barrel and investment bank  Morgan Stanley &lt;A HREF="http://www.investor.reuters.com/FullQuote.aspx?ticker=MWD.N target=/stocks/quickinfo/fullquote"&gt;MWD.N&lt;/A&gt; reported a decline in quarterly profit,  stirring concern about corporate earnings. 