US markets volatile on EU discussion; Citigroup to cut jobs

PUBLISHED ON: December 7, 2011 | Duration: 22 min, 24 sec

   
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US markets are volatile with energy and industrial stocks leading the selling pressure as EU officials' discussions weigh heavy on the markets. Meanwhile, German officials deny reports that talks are on to combine the EFSF bailout fund and the permanent 500-billion-euro European Stability Mechanism. Also, Apple loses the right to the iPad name in China while Citigroup plans to cut 4,500 jobs in the coming quarters.

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