(Reuters) - NEW YORK, June 6 - U.S. stocks fell sharply on
Wednesday after data showing higher-than-expected labor costs
stirred concerns about inflation, and the sell-off in equities
helped bonds break out of their recent losses.
The euro declined despite the European Central Bank's hiking
of euro-zone rates by 25 basis points to 4 percent, the highest
level since September 2001. Euro traders cashed in the currency
because the bank gave no indication that it would keep raising
rates beyond 2007. The ECB's rate increase had long been
expected.
Read more at Reuters.com Bonds News
Wednesday after data showing higher-than-expected labor costs
stirred concerns about inflation, and the sell-off in equities
helped bonds break out of their recent losses.
The euro declined despite the European Central Bank's hiking
of euro-zone rates by 25 basis points to 4 percent, the highest
level since September 2001. Euro traders cashed in the currency
because the bank gave no indication that it would keep raising
rates beyond 2007. The ECB's rate increase had long been
expected.
Read more at Reuters.com Bonds News
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