Stock markets in the US and Europe fell Tuesday, stunned by news that Greeks will vote in January on national austerity measures tied to resolving Greece's sovereign debt woes.
Only last week investors were plowing money into stocks, making October one of the market's strongest months ever. Now they can't sell stocks fast enough.
“If the austerity plan is shot down [by Greek voters], then do the European Union and the IMF [International Monetary Fund] lend Greece any more money?” asks Jay Bryson, an international economist at Wells Fargo Securities in Charlotte, N.C. “If not, then we are looking at a default here.”
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