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Daily Market Wrap: August 22, 2012

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August 22, 2012 AT 8:56 PM
The markets extended their losses amid lackluster economic data and worries over the euro zone but stocks made a bit of a recovery this afternoon after the latest Fed minutes suggested stimulus may be on the way. On the economic front, Existing home sales rose by a less than expected 2.3 percent in July, to an annual rate of 4.47 million units.