Who's to Blame?
World stock markets again sent mixed signals, as the urge to jump on the bullish bandwagon wrestles with the temptation to take profits. Asian exchanges were mostly lower, but a higher Nikkei 225 was enough to move the Asia Dow up 0.36%. Britain got a boost from the Bank of England's first interest rate increase in a decade, seen as a weak move that sent the pound lower and the FTSE higher. But weaker share prices on the Continent sent the STOXX 600 down 0.46%. In the Western Hemisphere, all four major non-US markets were lower.
In the US, it was a familiar story: The Dow Industrials started off lower, then strengthened throughout the day, leading the other two major indices on the upside. The S&P 500 and NASDAQ were both down significantly, but eventually surrendered to the Dow's greater gravity pull. Uncertainty over the developing tax reforms and forthcoming earnings ... Log in or subscribe to continue reading.
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