The latest news and events driving markets around the world, supplied by Marketwatch and Reuters.
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Wall Street has tempered its expectations for sweeping U.S. tax cuts in the wake of President Donald Trump's stinging healthcare defeat, a move that could push investors to embrace cheaper global stocks after the heady U.S. rally of recent months.
By Sara Sjolin and Victor Reklaitis, MarketWatch. London Stock Exchange Group, 3 i Group among the day's advancers. U.K. stocks ended in positive territory Wednesday, helped by the pound's drop, as Britain triggered Article 50 and officially kicked off its exit from the European Union, known as Brexit.
There's no turning back for the U.K. after Article 50 triggered. European stocks rose for a second straight day Wednesday, as investors largely ignored the official commencement of the U.K.' s negotiations to break from the European Union, dubbed Brexit. After swinging in and out of positive territory through the day, the Stoxx Europe 600 index closed 0.3% higher at 378.53, building on a 0.6% rally from Tuesday.
Chicago Fed president expects' one to two' hikes this year. Treasury yields fell Wednesday as traders snapping up U.S. government bonds were encouraged by Fed Vice Chairman Stanley Fischer's dovish comments on Tuesday, when he reiterated his commitment to two more rate hikes this year, in contrast to more hawkish remarks made by other Fed presidents on Wednesday. The yield on the 10- year Treasury note slipped 4.1 basis points to 2.379%, the largest one-day decline in two weeks.
Investors shrug of political uncertainty, focus on positive economic data. Investors in Asian equities regained some of their risk appetite Wednesday following strong gains in the U.S., where better-than-expected economic data sparked optimism. In currencies, the pound continued to plunge against the dollar after U.K.
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