Tag: buckle

GLOBAL MARKETS-Stocks buckle, dollar slips as investors mull Fed action

(Adds U.S. market open, byline, dateline; previous LONDON)

* U.S., European, Asian stocks decline

* Fed pledges low rates until 2023 but no new stimulus

* Graphic: 2020 asset performance tmsnrt.rs/2yaDPgn

* Graphic: World FX rates in 2020 tmsnrt.rs/2egbfVh

NEW YORK, Sept 17 (Reuters) – Global equity markets and gold slumped, while the dollar eased on Thursday after the Federal Reserve reminded investors of the long slog ahead for a full recovery that was reinforced by data showing persistently high claims for U.S. unemployment benefits.

U.S. Treasury yields dropped and the yield curve flattened as investors expressed disappointment that after its policy-setting meeting on Wednesday the Fed did not unveil more measures to stimulate the economy.

Wall Street’s main indexes tumbled as the technology sector and related stocks slid further, with Apple Inc and Amazon.com Inc among the biggest drags on the Nasdaq.

The number of Americans filing new claims

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Stocks buckle, dollar stirs as divided Fed disappoints

LONDON (Reuters) – Equities recoiled and the dollar stirred on Thursday after a divided U.S. Federal Reserve dented stimulus hopes, TikTok’s tug-of-war clobbered technology stocks and dire European car sales underscored the persistent impact of the coronavirus.

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville

Traders were also taking in Bank of Japan and Bank of England meetings and plenty of emerging market action, but the tone was set by the events overnight at the Fed and in the trenches of the tech war.

“Those who were expecting more input from Fed monetary policy after the adoption of an average-inflation target regime remained disappointed,” UniCredit analysts wrote in a note.

“While the Fed expects the Fed funds rate to remain flat through 2023, it will need more time to assess the status of the economy and to

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