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Comments from Mario Draghi that indicated the ECB would not be engaging in an aggressive bond-buying program sent markets down with major banks leading the way.

The second ECB rate cut in five weeks was a modest one, but signals the intent of European policy makers to help the struggling economy in the face of a mounting debt crisis.

Looks like a successful summit. While uncertainties linger, the Europeans have a framework for solving problems. Profit-taking could set up a buying opportunity.