Spain's Aid Package Impacts Market

The stock market was impacted this morning in light of Spain's aid package and Greece's upcoming election. Spain has received 100 billion euros ($125 billion) in an aid deal to help their struggling banks. Since this aid package was larger than expected, it gives the financial markets a bit of breathing room for now. The size of this aid package points to a big commitment from the euro zone to stabilize the economy. However, this also suggests that the EU is nervous about the Greek election since the vote could potentially lead to Greece leaving the euro zone. All of this uncertainty in Europe is causing U.S. companies more difficulties in growing their revenue. Overall, there remain worries concerning the global growth outlook in light of the European debt crisis, but things have taken a step in the right direction.

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