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Fed Hawks Clip Bull Market's Wings as Rate Path Signals Stall Global Stocks

Martin Baccardax

Global stocks retreat as bond yields rise, dollar bounces higher following a Federal Reserve statement that essentially re-states its hawkish rate path. Benchmark 2-year Treasury note yields trade at the highest level in a decade as investors react to a Fed whose policy is diverging from major central banks around the world. Global oil prices slide into bear market territory as record high U.S. output, rising crude stocks and waning end demand offset now-discounted Iran sanctions.