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Stocks were incredibly volatile at the end of last week as investors shrugged off signs of an improving U.S. economy and focused on European sovereign debt problems. The Dow fell 5.7 percent last week to erase its gains for the year, while broader indexes fell even further. On Thursday alone, the Dow was down nearly 1,000 points late in the day before recovering some of those losses. Stocks have dropped four straight days as triple-digit Dow moves have again become the norm. As the credit crisis grew in late 2008 and the market bottomed in early 2009, big swings were normal. In recent months, however, the Dow had been climbing slowly and steadily in recent months on repeated signs the economy was recovering. As investors jump back into riskier assets like stocks on Monday, U.S. bond prices tumbled. Gold also fell sharply. Both surged late last week as investors sought safe-haven investments. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.59 percent from 3.43 percent late Friday. Overseas, Britain's FTSE 100 jumped 5 percent, Germany's DAX index surged 4.5 percent, and France's CAC-40 rallied 8 percent. Japan's Nikkei stock average rose 1.6 percent.
[Associated
Press;
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