I’m trying to display “Announcement” list using CQW but there is a bullet coming in front of every document. I’ve tried finding using “IE developer tool” but don’t see any <li> tags.How to remove this ?

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Open the tool pane for the Content Query web part. Expand the Presentation section. Under Styles > Item Style, what is selected? Is it Bulleted title? If it is, try switching to Title only.