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Stocks Drop While Dollar Firms Again

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According to Reuters, World stocks fell for a third straight day on Friday on pessimism about global economic growth and trade tensions, and were set for their first weekly drop this year, while the U.S. dollar was on track for its biggest weekly gain since August. MSCI’s gauge of stocks across the globe shed 0.86 percent, and was set to fall this week following six consecutive weekly increases. Investors were digesting economic and trade developments from a day earlier, when the European Commission sharply cut its forecasts for euro zone growth this year and next, while President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to achieve a trade deal.

Added on the 08/02/2019 14:01:13 - Copyright : Wochit

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