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Stocks narrowly avoid worst week in a year

July 17, 2011

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A late rally Friday lifted stocks, trimming the S&P 500’s weekly losses to 2.1 percent. Had the index closed where it was at 2:30 p.m. it would have been down 2.6 percent for the week, making it the worst week since August. The S&P 500 has only had two up trading days out of the last six as Italy appeared to be the next European country headed for a fiscal calamity.