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Turn Around Tuesday Began Yesterday
Turn around Tuesday began yesterday with a key reversal in the high-flying NASDAQ. It soared to new record highs before selling off and settling below the previous low. The S&P 500 saw new four-month highs and then sold-off and ended on its lows with a loss of nearly 1% on the session. Asia Pacific shares fell, led by declines in Hong Kong and India. The main Chinese benchmarks were off less than 1%. The Dow Jones Stoxx 600 is off about 1.3% in late morning turnover in Europe, while US shares are flat to slightly higher. Benchmark yields are mostly 1-3 bp lower. The US 10-year yield is near 62 bp. The dollar is ... (full story)