Markets plunge on Euro debt

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The escalating euro zone debt crisis, combined with a wide array of economic concerns, sent the blue chips diving by more than 270 points after the opening bell on Tuesday on the heels of a steep selloff last week.

Today’s Markets
Dow Jones Industrial Average sunk 272 points, or 2.4%, to 10,969, the S&P 500 tumbled 25.5 points, or 2.3%, to 1,147 and the Nasdaq Composite slumped 58.5 points, or 2.4%, to 2,421.

Europe’s sovereign debt crisis has sparked concerns on Wall Street in recent months, and have once again pressured world markets.  Several euro zone countries such as Greece and Italy have high levels of public debt as compared to total economic output, prompting concerns over how they will be able to pay back their debt, especially considering a weaker global economic situation.

Full story: Euro Debt, Economic Fears Incite Selling Frenzy | Fox Business.