Update (8:30 am PDT): ECB intervenes in last minutes of Euro Market Trading as Italy closes red once again. Global markets stabilizing after authorities worldwide pull out all stops to stem bloody tide. Greece and South Korea follow Italy and ban short-selling of equities. Brazilian Finance Minister Mantega says G-20 prepared to take action to calm the global crisis.
It worth noting that since the release of the horrendous GDP numbers last week, which clearly showed the economy is NOT recovering, the DOW has lost 1,432 points.
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