Equity market turbulence intensifies, sending dollar reeling
Shares are sliding and the dollar is tumbling against its main counterparts as an unwinding of crowded AI-related trades sends investors fleeing to safe havens. US equity markets are setting up for further losses at the open after technology shares suffered their worst sell-off in months yesterday, Treasury yields are falling, while the yen and Swiss franc outperforming the euro, pound, and Canadian dollar as the retreat from risk gathers momentum. Yesterday’s data added to the turmoil, showing that price pressures in the US economy remain too intense, too widespread, and too persistent. A widely-anticipated consumer price index report showed...