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GM shares skid on bankruptcy preparation news

NEW YORK (Reuters) - Shares of GM fell almost 12 percent on the New York Stock Exchange to end at $2.00.

GM bonds were mixed in afternoon trading, with GM’s benchmark 8.375 percent note up less than 1 cent on the dollar to 11.75 cents, yielding more than 70 percent, versus about 11 cents with a 75 percent yield on Monday, according to MarketAxess data. The bond had slipped in earlier trading.

Two other GM notes were slightly lower in late afternoon trading.

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