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European Stocks Down; SocGen Slides

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"European stocks turned lower as concerns about the health of the region reemerged following some bearish comments by leading investment banks, prompting fears that an economic recovery may be derailed. The euro sank, with traders citing official comments on Hungary's woes and rumors of derivative problems at Société Générale. The bank declined to comment, but its stock was recently down 6.5%. HSBC Bank caused jitters with a research note to clients in which it downgraded Europe excluding the U.K. to underweight from neutral. "There remains too much uncertainty about the health of banks, about the future arrangements for the euro, about sovereign debt and about growth for us to want to take risk in this region for the moment," said HSBC. "