An eventful week came to a close on a down note Friday. After a nearly $1 trillion rescue package formed in conjunction with the ECB, the IMF, and several European countries sent markets rallying, investors took a second look at the systemic risks of the region and pulled back sharply on Friday. The Dow shed much of its 400 point gain following the announcement on Monday, closing at 10,620.16 for the week. The euro fell below $1.24 (an 18-month low), and risk contagion over Europe’s financial troubles largely offset promising U.S. economic data. Financials in both the US and Europe were hit hard, as the market looks to find a bottom.
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