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PARIS (AP) — Stock markets around the world have mostly drifted lower today ahead of the weekend referendum in Greece. In China, meanwhile, stocks plunged despite government efforts to restore investor confidence.
Stocks in France, Germany and Britain were down by as much as one percent. Investors are awaiting the outcome of Sunday's referendum in Greece on whether to accept more budget cuts in exchange for new bailout loans. European officials say a rejection could lead to Greece's exit from the euro.
In China, the Shanghai Composite Index ended nearly six percent lower. Investors dumped shares even after the government took actions this week including cutting fees and easing rules on borrowing money for trading. State media say regulators are launching an investigation into suspected stock market manipulation -- an indication of China's efforts to stop the slide in its stock market.
U.S. markets are closed in observance of Independence Day.
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