Nowhere to Hide as Dollar Posts Only Gain Amid Rout
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The dollar is proving to be investors’ only haven as stocks, commodities, bonds and other currencies fall in unison for the first time since 2011.
Concern governments will curtail aid to economies pushed the MSCI All-Country World Index down 3 percent, spurred declines of 2.5 percent or more in gold, copper and oil, and sent bonds of all types to losses of 1.1 percent this week, according to Bank of America Merrill Lynch’s Global Broad Market Index. Currencies from Australia to Mexico fell against the dollar.