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Stocks, euro slide as worries about Europe persist
A growing sense that Europe’s leaders have failed to contain that region’s debt crisis swept through financial markets yesterday.
It started with the euro dropping below US$1.30 for the first time since January and a jump in borrowing costs for Italian government debt. By the end of the trading day the Dow had lost 131 points, European stock indexes fell as much as 3 percent and gold dropped US$76, ending below US$1,600 an ounce for the first time in more than two months.
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