In this June 2, 2011 photo, American flags are displayed on the New York Stock Exchange in New York. Global stocks took another pounding Tuesday, July 12, 2011, while borrowing costs for Spain and Italy spiked higher as investors worried that Europe's debt crisis could infect the continent's larger economies.(AP Photo/Seth Wenig)AP – Hope that the Federal Reserve might consider more economic stimulus wasn’t enough to keep bad news about Ireland from sinking stocks.


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