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Posted AT 6:42 PM EST on 29/09/08

European governments scramble to shore up banks

JANE WARDELL

The Associated Press

LONDON — European governments announced a flurry of bank bailouts from Germany to Iceland on Monday, but the rescue deals only heightened fears that the contagion from the U.S. credit crisis has much further to spread before the financial system recovers. European shares fell heavily and money markets remained frozen with banks refusing to lend to each other for all but the shortest periods amid concern that a planned U.S.

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Market	Change	Value
Data delayed 15 minutes
S&P/TSX	-350.77	9,121.32
DJIA	-245.40	8,769.70
S&P 500	-28.05	906.65
Nasdaq	-53.32	1,599.06

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