Wall Street falls on concerns over Spain

by Blog Burger on July 20, 2012

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – Bank stocks led Wall Street down on Friday after a Spanish region asked Madrid for financial aid, rekindling fears about Europe's economic crisis and prompting traders to cash in three days of gains. Spanish benchmark bond yields hit euro-era highs on the news despite the approval of the terms of a bailout of Spain's banks, bringing back worries that the euro zone's fourth-largest economy would eventually need to be bailed out. …

Business News Headlines – Yahoo! News

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