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Wal-Mart Drags U.S. Stocks Lower While Dollar Falls on Fed Bets

  • Gold and bonds gain as China, U.S. data spur growth concerns
  • Wal-Mart plunges most in 27 years on earnings outlook
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Central Banks and the Global Threat of Deflation

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U.S. stocks were dragged lower as a bleaker outlook from Wal-Mart Stores Inc. added to global growth concerns. The dollar fell to the lowest in three months and bonds rose as investors became more certain the Federal Reserve will hold off on raising interest rates.

Wal-Mart had its biggest plunge in more than 27 years after predicting a decline in profit during the next fiscal year. Treasuries rose and the greenback weakened against all major peers as the odds that a U.S. rate increase will be delayed until at least 2016 climbed to the highest this year. Gold advanced to a three-month high.