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Stocks notch worst day of year as Greek crisis escalates

Stocks notch worst day of year as Greek crisis escalates

Fears that Greece's troubles could spread through the global financial system shook markets on Monday, driving U.S. stocks to their worst day of the year. Investors fled from stocks in Europe and the U.S. and retreated to the safety of government bonds. Measures of volatility spiked. In many ways, it looked similar to previous episodes in Europe's long-running debt crisis, except that this time, investors said, they weren't quite as worried. A series of events over the weekend left Greece perilously close to defaulting on its debts. Greece's Prime Minister, Alexis Tsipras, said his government would hold a referendum on budget proposals made by the country's...

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