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Stocks fell sharply in early trading Wednesday on growing concerns that Italy’s debt levels are unsustainable. The Dow Jones industrial average lately was down 278.82 points, or 2.29 percent, to 11,891.36. The S&P 500 fell 32.01, or 2.51 percent, to 1,243.91. The Nasdaq lost 70.75, or 2.59 percent, to 2,656.74. Italy’s key borrowing rate spiked…