Stocks continued their rebound after Monday's debacle, as the Dow gained some 300 points in early trading. It was following the lead and hopes for moderation in the area of trade restrictions. But as the day wore on, those negative fears resurfaced and stocks gave it all back – plus some.
Asian exchanges followed the US weakening towards yesterday's close, and fell across the board; the Asia Dow lost 0.74%. Europe turned things around, however, and evened things out with a 0.72% gain in the STOXX 600. That left it to the US as the tie-breaker.
Oddly enough, fixed income securities were strong as money sought safety and managers sought to adjust their portfolios at month's and quarter's end, and yet stock market breadth was decidedly weak even while the "name" indices were higher. I say "oddly enough" because the NYSE lists a great many interest rate sensitive securities that normally rally along with bond ... Log in or subscribe to continue reading.
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