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Global markets tumble, Wall Street next? 12 July 2011 As the worlds markets have tumbled through their morning sessions and into the afternoon speculation persists that Wall Street is next on the list.  As crisis rises in Europe the fear of systemic disaster continues to worsen.  European officials continue to refuse to rule out a default by Greece threatening markets and economies once again.  The fear has increased significantly with speculation that Italy and possibly Spain may be next.

Markets in Asia showed a selloff sparking the same in Europe.  After the worst day on Wall Street in a month on Monday and early trading suggesting that economically sensitive sectors such as banking would lead a broader decline.

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