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Stocks plunge in US and around the world after Greece rescue thrown into doubt
NEW YORK (AP) ' A wave of selling is sweeping across Wall Street and stock markets around the world after Greece said it would let the people vote on an unpopular European plan to rescue that nation's economy.
The Dow Jones industrial average is down more than 260 points at midday Tuesday. The stocks of major banks like Citigroup and JPMorgan Chase were hit the hardest. Treasury bond yields plunged as investors moved money into safer assets.
Intense selling roiled markets in Europe. Italy's main stock index plummeted 6.2 percent; France's fell 4.6 percent and Germany's 4.2 percent.
The Dow was down 266 points, or 2.2 percent, to 11,688 at 11:45 Eastern. The S&P 500 lost 31, or 2.5 percent, to 1,221. The Nasdaq composite fell 68, or 2.6 percent, to 2,615.