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Fears about Europe's stability spark a wave of selling on Wall Street

Here we go again.

msnbc.com's news services report:

A wave of selling hit Wall Street and stock markets around the world Tuesday after Greece’s Prime Minister George Papandreou said he would let the Greek people vote on an unpopular European plan to rescue the nation’s economy.

The Dow Jones industrial average closed the day down 297 points having seen a 321-point deficit at the session’s low. As stocks tumbled, a widely-watched gauge of investor fear, the VIX index, jumped some 25 percent, chalking up its biggest daily gain since mid-August.

Full story.