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Europe's Averages Close Down on Greece & Spanish Worries

11:41 AM ET Mon, 14 May 2012

The "Squawk on the Street" news team report the major European averages fell about 2% on Greek and Spanish worries and its impact on U.S. markets, with CNBC's Bob Pisani. Also, CNBC's Capital Markets editor, Gary Kaminsky has the update on Yahoo's CEO's exit, Chesapeake Energy and China.