Stocks have been grinding lower all morning on no obvious news. Bank of America and Citigroup are each down around 3%. But the sell-off is broad and hitting all sectors.
In Europe, an Italian bond auction was met with healthy demand.
But out of nowhere, the euro as well as the pound plummeted against the dollar.
We still can't exactly figure out what triggered he the dramatic move in the currency markets. But the pundits seem to be attributing it to a cross in low trading volume, flight to the safe dollar, and perhaps even a fat finger trade.
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