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Falling Stocks and Yields Drag Dollar Lower
Many markets are closed in Asia, and although Tokyo managed posted equity gain, most other markets in the region that were open fell. And the selling pace picked up in Europe. The Dow Jones Stoxx 600 is off 2.3%, led by information technology, industrials, and consumer discretionary. It is trading at new lows since late-2014. It is the sixth consecutive losing session, which is the longest such streak in seven months. Rather than a new trigger, the equity losses today seem to be a continuation of what investors have been experiencing. The same is broadly true of the bond market. Core bond yields, including US ... (full story)