Yesterday stocks were down initially on reports that several French banks might
be hit with a downgrade. And for most of the day the Dow Jones Industrial
Average was off by over 1% as the news shifted to another European problem the
strong possibility of a default on Greece's debt. But 45 minutes before the
close the market violently reversed course when Italytook center stage this
time due to a report from the Financial Times thatChina was in talks that could
lead to a "significant" purchase of Italian bonds and stocks closed with
gains.
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