Sterling slumps on 'no-deal Brexit' worries; stocks dip

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NEW YORK -- The British pound touched its lowest level in over two years against the dollar after Prime Minister Boris Johnson said a hard divorce from the EU was in the cards, while stocks dipped glo

bally with Wall Street backing off record highs.

A stronger-than-expected US gross domestic product report on Friday lead some investors to doubt whether the Fed will continue easing this year after its Wednesday meeting. "Apple's results will be a good read into trade and the situation with China and if Apple has a good number it would be a stabilizing force for the technology sector," said Craig Hodges, portfolio manager with Hodges Funds in Dallas, Texas.

Oil futures meandered throughout the session but ended decidedly in the black as Fed easing expectations more than offset the reaction to "constructive" Iran talks over the weekend. US Treasury yields were lower across the board with investors focused on the widely expected interest rate cut by the Fed later this week.

 

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