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January 23, 2015

Stocks rally as Europe unveils stimulus plan

NEW YORK (AP) — A plan to revive Europe's sagging economy rippled through the financial world on Thursday, setting off a rally in the stock market that wiped out its losses for the year.

The pledge by the European Central Bank to spend 1.1 trillion euros on bonds knocked down government borrowing rates across Europe and drove the euro to its lowest level against the dollar in 11 years. For investors, the long wait for action in Europe was over.


 
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