Stocks fall on worries about Europe

Associated Press

NEW YORK

Stocks tumbled for a second day Friday after concerns grew that the deep spending cuts under Europe’s bailout plan would slow a global recovery.

The drop in U.S. markets Friday followed a slide of more than 3 percent in European indexes. The euro dropped to a 19-month low against the dollar and is close to its lowest level in four years as confidence in Europe’s ability to contain its fiscal problems wanes.

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