COMMENTARY The markets tumbled as the dollar hit a postwar low. The greenback's dip below 100 yen on June 21 fueled fears that the Federal Reserve would hike interest rates to defend the dollar. The Dow reacted by plunging below 3700 in its third losing session in a row. The bond market also got spooked, and the yield on the 30-year bond briefly topped 7.5%. Comments from Fed Chairman Alan Greenspan that long-term rates were too high later buoyed the markets. But Tokyo stocks sank.
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