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European markets just closed and they’re down big across the board after France revealed its 2013 budget.Italy is down 2.3 per cent.

France is down nearly 2.5 per cent.

Spain is down 1.4 per cent.

The DAX fell 1 per cent and the London FTSE was down 0.65 per cent at the close.

They were actually headed higher to start the day.


Up next is the announcement on Spanish bank stress tests at 12 PM ET >

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