Dow Posts Worst Two-Day Drop Since 2008 Financial Crisis

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Stock markets around the globe slid early in the week and then plummeted on Thursday and Friday. The Dow entered correction territory, posting its worst two-day drop since the 2008 financial crisis. Explanations for the selloff included the impact of slowing global growth on corporate earnings, aftershocks from China’s currency devaluations and emerging market vulnerability to U.S. rate hikes. The only gainers for the week were gold and government bonds. The yield on the ten-year U.S. Treasury fell to 2.05%, reversing its August climb.

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