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Worries about Greece, Spain drag down stocks

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The S&P 500 slumped to its lowest level since February as austerity-weary Greece struggled to form a new government amid growing speculation it may ditch the euro. Also, the cost of insuring against a possible Spanish default jumped to a record high. ‘We certainly have a lot to worry about,’ said John Manley, at Wells Fargo Advantage Funds.

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