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US equities tumbled broadly Thursday after strong labour data from the ADP Research Institute fueled fresh bets that the Federal Reserve would need to ramp up its monetary medicine, sending two year Treasury yields to levels last seen in 2007. The Dow closed more than 365 points lower while the S&P 500 and the Nasdaq fell by 0.8% each. European markets, meanwhile, fell even further, with the Euro Stoxx 50 Index tumbling by almost 3% to end May’s lows.
Summary for 07.07.2023
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