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Asian shares stumble as bets on sharp US rate cuts are off

WorldNews Monday, 8 July 2019 ()
Asian shares stumble as bets on sharp US rate cuts are offSydneyAsian shares were a sea of red on Monday after strong US job gains tempered expectations the Federal Reserve will deliver a large rate cut, while the Turkish lira hovered near two-week lows on worries about central bank independence. Share sentiment was also dampened by US investment bank Morgan Stanley’s decision to reduce its exposure to global equities due to misgivings about the ability of policy easings to offset weaker economic data. The dour mood extended beyond Asia with the pan-region Euro Stoxx 50 futures opening 0.4% lower while Germany’s DAX and London’s FTSE slipped 0.5% and 0.3% respectively. E-minis for the S&P500 declined 0.25%. In a rare occurrence, every market...
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