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Read it at The Wall Street Journal
The markets just can't catch a break. After rising yesterday on news that the Federal Reserve would keep interest rates low, they fell back down today on fears of the European debt crisis. The Dow fell 4.6 percent, the S&P dropped 4.4 percent, and the NASDAQ declined 4.1 percent. Worries that France could be the next country to have its credit downgraded sent investors fleeing to U.S. Treasuries and gold. Gold soared to a new record at $1,781.30 an ounce.