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China's Secret Plan

Daily Recap

Markets again sold off on concerns about the US/N. Korea exchange of threats. Added to that worry are weaker earnings news, productivity and inflation data. Not to mention that stocks have been way overdue to correct.

The results include a 1% decline in the STOXX 600 and 0.86% drop in the Global Dow. Safe havens again benefited, with gold up another $9 and silver up 17 cents. Bonds also gained, sending the yield on the US 10-year note down to 2.208%.

The dollar edged lower, down 0.15% to 93 .38. Crude oil also sold off, losing 2% to $48.62.

Shortly before the close, the Dow Industrials were down 160 points or 0.74%. The S&P 500 was down 32 points or 1.28%, though the biggest loser was the NASDAQ, down 131 points and 2.08%

 

China's Secret Plan

By Chuck Butler

 

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