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MARKET WRAP: Selling Pressure Pushed Stocks Lower

Markets in Europe closed sharply lower as investors kept their focus on Brexit divorce deal and trade war.

Stocks

  • The S&P 500 Index dropped 0.38 percent as of 15:33 London time.
  • The Stoxx Europe 600 Index lost 0.66 percent.
  • The U.K.’s FTSE 100 Index sank 0.7 percent.
  • The DAX Index dropped 1.3 percent, losing the most in almost six weeks.

Currencies

  • The Dollar Spot Index jumped nearly 0.05 percent.
  • The Euro moved higher by 0.1 percent to $1.1353, the most in almost three weeks.
  • The British pound dropped 0.55 percent to $1.3196.
  • The Japanese yen lost nearly 0.1 percent to 111.30 per dollar.

Bonds

  • The yield on 10-year Treasuries dropped two basis points to 2.58 percent.
  • Germany’s 10-year yield lost one basis point to 0.09 percent.
  • Britain’s 10-year yield declined by three basis points to 1.154 percent.

Commodities

  • West Texas Intermediate crude jumped 1.52 percent to $59.93 a barrel, a four-month high.
  • Gold lost its level of 1300 and dropped 0.2 percent to $1,298 an ounce
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