The Spanish region Murcia has followed Valencia into insolvency and asked the central government for a bailout, increasing the chances that Spain will call on the ECB for a rescue. The prospect of a financial collapse in Spain caused the European markets to plummet, and also depressed stock prices in Tokyo and New York.
In other news, James Holmes, the Colorado theater shooter, appeared in court for the first time in a preliminary hearing. The suspect appeared dazed and inattentive, and his attorney had to answer the questions directed at his client by the judge. Mr. Holmes is being held without bail.
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