Euro Rallies as ECB Stimulus Fails to Steady Stocks; Crude Drops
- Shared currency reverses steepest retreat since November
- Treasury yields jump with European bond rates after move
ECB Cuts Three Main Interest Rates, Expands QE
This article is for subscribers only.
For global financial markets, central-bank stimulus just isn’t what it used to be.
Stocks in Europe retreated with government bonds, while the euro rallied to its strongest level in almost a month as investors looked past an unprecedented boost to European monetary policy to focus on rising anxiety that policy makers have lost the ability to jump-start global growth and stave off deflation.