Greece’s admission that it will miss its deficit target this year despite harsh new austerity measures sent stock markets reeling on Monday and raised new doubts over a planned second …

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A three-day winning streak in the stock market came to an end Wednesday as investors worried about Europe’s ability to contain its debt crisis.

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NEW YORK (AP) — Stocks are plunging in midday trading, extending a rout around the world. Indicators across the financial markets show that investors are worried that the global economy is in for a long slump.

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Insurance on the debt of several major European banks has now hit historic levels, higher even than those recorded during financial crisis caused by the US financial group’s implosion nearly three years ago.

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The stock market is starting to feed economic fear, not just reflect it.

Stocks have fallen four weeks in a row. Some on Wall Street worry that the resulting blow to confidence, not to mention 401(k) statements, has set off a spiral of fear that could push prices even lower, cause people and businesses to pull back and tip the economy into a new recession.

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