Stocks, Dollar Fall Amid Turmoil in Washington

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from The Wall Street Journal,

  • Dow Jones Industrial Average falls roughly 250 points
  • ICE U.S. Dollar Index set to erase postelection gains
  • Safer assets rally, with 10-year Treasury yield falling to 2.25%

Turbulence in Washington jolted markets out of an extended period of calm Wednesday.

Stocks, the U.S. dollar and government bond yields fell as investors pulled back from bets on the swift passage of the Trump administration’s agenda. Wagers that President Donald Trump’s policies would boost growth and inflation have been unwinding for months, but those moves accelerated Wednesday.

In one of the clearest signs of waning investor confidence, a closely watched measure of the dollar’s value was on track to give back its postelection gains.

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