Well, you have to admit it's been a riveting show - for many months now. Following a mixed day in the Eastern Hemisphere - Asia up, Europe down - US stocks once again teed off in the AM, with the Dow up over 150 points. But then some cracks appeared, and by midday all the main averages were lower.
The Asia Dow added 0.26% today, despite a 0.76% decline in Japan and a 0.90% drop in Taiwanese shares. Concerns there, and elsewhere, center on the dollar's precipitous decline and how that can harm exports to the US, while increasing imports from the US. In Europe, a stronger pound and euro mirrored concerns in Asia, sending the FTSE to 4-week lows and the STOXX 600 down 0.50%.
The big winners on the day, on the upside anyway, were the precious metals - once again beneficiaries of a weaker dollar. Gold jumped $17, putting it ... Log in or subscribe to continue reading.
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