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Market Extra: Here’s why the stock market is spooked by central bankers, Trump agenda delays

A one-two punch, centered on continued doubts about President Donald Trump’s Wall Street-friendly agenda and hawkishly interpreted comments from global central bankers, is knocking investors around, sparking a surge in yields and sharp swings in currencies.

Global government bond yields and the euro were jolted higher, putting pressure on the U.S. dollar on the heels of statements from European Central Bank President Mario Draghi, whose remarks were taken as a suggestion that the ECB may be inclined to wind down its balance sheet as European growth picks up. Those comments were followed by similarly upbeat utterances from Bank of England Gov.

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