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Markets on edge over potential for US default

July 31, 2011

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US stocks slid Friday, pushing the S&P 500 index to its biggest weekly loss in a year, as economic growth trailed forecasts and investors awaited the outcome of negotiations to avoid a federal default. A sell-off in short-term Treasuries showed that ‘the market is very concerned,’ said Thomas Tzitzouris, of Strategas Research Partners.