Treasuries Rally, Euro Soars as S&P Treads Water: Markets Wrap
- U.S. equities little changed as policy, hurricane threats loom
- ECB holds rate, stimulus; Draghi says medium outlook unchanged
Draghi Says QE Will Stay at Same Pace Through Dec.
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U.S. stocks were little changed, while the dollar tumbled and Treasuries rallied as investors sounded a note of caution with Hurricane Irma barreling toward Florida and North Korea issuing threats.
The S&P 500 Index, Nasdaq Composite Index and Dow Jones Industrial Average barely budged, while the euro strengthened after the European Central Bank signaled prolonged stimulus. The ECB’s dovish tone boosted the region’s currency to the highest in almost three years, fueling demand for dollar-denominated debt. That sent 10-year Treasury yields down to 2.05 percent. Gold advanced on signs that inflation in the U.S. and Europe remains subdued.