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Global Markets Update: U.S. Markets Give Up Earlier Gains

Wednesday, 29 Feb 2012 | 11:40 AM ET

CNBC's Mandy Drury reports on the U.S. markets giving up earlier gains, led lower by materials and energy stocks. Bernanke mentions job market far from normal. GDP expands at 3 percent pace. GM and Peugeot Citroen agree to form alliance. And James Murdoch steps down as executive chairman of News International.