Equities gain, euro tumbles as ECB hints at faster debt purchases
Source: Reuters
Equities around the world jumped on Tuesday and the euro tumbled on signals the European Central Bank may accelerate its 1 trillion euro bond-buying program over the next two months.
The dollar gained 1.6 percent against the euro and was broadly ahead for a second day, while U.S. Treasuries fell on government data showing that U.S. housing starts in April rose to a nearly 7-1/2 year peak.
Wall Street, which closed at record highs on Monday, reacted little to the upbeat housing data and was last down on weak results from retailer Wal-Mart. Some traders said the stronger-than-expected housing report could encourage Federal Reserve policymakers to raise interest rates sooner than later.
The Dow Jones industrial average .DJI fell 12.61 points, or 0.07 percent, to 18,286.27, the S&P 500 .SPX was down 1.7 points, or 0.08 percent, to 2,127.5 and the Nasdaq Composite .IXIC declined 5.70 points, or 0.11 percent, to 5,072.74.
Read more: http://www.reuters.com/article/2015/05/19/us-markets-global-idUSKBN0O401E20150519
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