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U.S. stocks tumbling again
U.S. markets took a pounding this week after Bear Stearns Cos. required a bailout from the Federal Reserve and JPMorgan Chase & Co. to avoid collapse.
Bear Stearns, the second-largest underwriter of U.S. mortgage bonds, tumbled the most ever after the brokerage said its liquidity deteriorated in the past day. The announcement overwhelmed economic reports that showed inflation ground to a halt and consumer confidence unexpectedly rose, Bloomberg.com reports.
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