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Stocks slide on jobs data, Europe downgrades

October 8, 2011

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A three-day market rally faded yesterday after a mixed jobs report and credit-rating cuts for Italy and Spain. The latest day of choppy trading ended with a loss of 20 points in the Dow, following a 468-point surge over the previous three days. Banks fell more than the broader market as the downgrades of Italy and Spain renewed concerns about Europe’s debt crisis.