US stocks tanked through the trading day on Tuesday, erasing all their
gains for the year, and the dollar rallied to a 12-year high versus the
euro.
First, the scoreboard:
- Dow: 17,662.94 -332.78 (-1.85%)
- S&P 500: 2,044.17 -35.26 (-1.70%)
- Nasdaq: 4,859.79 -82.64 (-1.67%)
And now, the top stories on Tuesday:
- The euro plunged to a 12-year low against the US dollar. It fell below $1.07 for the first time since 2003 to as low as $1.0698. The market was focused on the European Central Bank’s quantitative easing program, which kicked off on Monday. With the US Federal Reserve expected to raise interest rates later this year, there is increased demand for the dollar. And according to Deutsche Bank, the Euro could reach parity with the dollar by the end of this year.
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