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The Boston Globe

Business

Dow falls more than 350 points as global markets tumble

PARIS — Global markets tumbled Thursday over concern about a credit crunch in China and uncertainty about the U.S. central bank’s plans for withdrawing the monetary stimulus upon which the U.S. economy has become dependent.

Just a day after the Federal Reserve hinted that it could soon begin winding down its bond-purchasing program, investors were unnerved by reports that Chinese banks had become reluctant to lend to one another, causing interest rates in the interbank market to spike to punishingly high levels.

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