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In Europe, Moody's warned that it could downgrade the credit rating of the European Union as a whole, citing the continent's lingering debt crisis. That sent markets broadly lower in Europe. Benchmark indexes fell 1.2 percent in Germany, 1.6 percent in France and 1.5 percent in Britain. The focus this week will be on the European Central Bank President Mario Draghi, who is expected to announce details on Thursday of a new bond-buying program intended to bring down the borrowing costs of countries such as Spain and Italy. The price of oil also slipped on worries that demand would fall. U.S. benchmark crude fell $1.17 to $95.30 in New York. Among other stocks making big moves: Netflix plunged $3.79 to $55.93, a loss of 6 percent. Rival Amazon signed a deal with a company that licenses movies from Paramount, MGM and Lionsgate for its online streaming service. Consol Energy fell 4.5 percent after the company said it will temporarily idle a mine because of weak steel demand. The stock lost $1.37 to end at $28.83. Medicis Pharmaceutical soared 38 percent. The company said it would be acquired by dermatology products maker Valeant Pharmaceuticals International. Medicis jumped $12.09 to $43.65.
[Associated
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