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Stocks rally, euro falls after Europe unveils stimulus plan
Stocks rally, euro falls after Europe unveils stimulus plan

A plan to revive Europe's sagging economy rippled through the financial world on Thursday, setting off a rally in the stock market that wiped out its losses for the new year. The pledge by the European Central Bank to spend 1.1 trillion euros on bonds knocked down government borrowing rates across Europe and drove the euro to its lowest level against the dollar in 11 years. For investors, the long wait for action in Europe was over. “It's all about the ECB today,” said Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management. “This is a very positive development. They have a reputation of overpromising and under-delivering, and today they...

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