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7/24/2019, 11:07 AM (Source: TeleTrader)
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Wall Street in red before bell on risk aversion

Safe haven assets benefited on Wednesday during premarket trading in stocks in New York. Equities sold off after nearly hitting record highs yesterday as attention turned to upcoming meetings of major central banks. A decision by the European Central Bank to push interest rates to deeper all-time lows or to offer easing bias in forward guidance may force the Federal Reserve and the Bank of Japan to adapt their stance.

Meanwhile, the earnings season was in full swing and the euro dropped to January lows against the yen and reached the weakest level compared to the dollar in two months. Prices rose for sovereign debt of Germany, the United States and the United Kingdom, while precious metals gained.

Gold advanced 0.53% to $1,425.12 per ounce at 5:06 am ET. The euro slipped 0.11% to $1.114 and the dollar lost 0.16% to ¥108.054. The Dow Jones Industrial Average was 0.25% or almost 70 points in the red. The S&P 500 retreated 0.3% and the Nasdaq 100 index fell 0.43%.

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