Equities Wish It Were Turn Around Tuesday As Rout Continues And No Relief For The Yen
Equities continue to sell off, with major indices in Japan, South Korea, and Taiwan down 2-3%. The dollar reached a nine-month high against the yen amid concerns over Japan's fiscal package. Emerging market currencies are pressured, with the Turkish lira at record lows. US index futures are down 0.25%, and European yields slightly lower. Gold dipped below $4000 but recovered. The Dollar Index is testing resistance near 99.85. ADP projects a loss of 29k private sector jobs in September, with a rebound in October.
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