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Stock Rout Deepens, Casts Shadow over Holiday Spirit
The 2% slide in the S&P 500 to new lows for the year yesterday hit Asian and European equities today. Bond yields are lower, and the dollar is softer against most major currencies. The dramatic equity losses and some disappointing data sparked doubts about the ability of the Fed to raise rates tomorrow at the conclusion of its last meeting of the year. India shares continue to buck the trend and advanced for the sixth sessions. The Nikkei lost 1.8% but held above the key 21000. European bourses are lower, and the Dow Jones Stoxx 600 is off for the fourth consecutive session and is back near year's lows set last ... (full story)