By Staff Reporters
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U.S. stocks fell amid a host of monetary policy decisions globally. The markets continued to digest the economic implications of yesterday’s 50-bp rate hike from the Fed, which was followed by 50-bp increases from the European Central Bank, Bank of England, and Swiss National Bank earlier today. The economic calendar provided a host of data, as retail sales decreased more than expected, industrial production declined, and manufacturing activity in New York and Philadelphia both contracted, though jobless claims moderated much more than expected.
The equity front was relatively quiet, but Lennar Corporation posted mixed results and offered some cautious guidance, while Netflix saw pressure from a report about softer-than-expected ad-supported viewership.
Treasury yields were lower, and the U.S. dollar gained ground, while crude oil prices declined, and gold dropped. Asian and European stocks finished broadly lower, as the global markets digested mixed data and a flood of monetary policy decisions around the world.
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