Dow recovers as Iran plays down strike; techs plunge
Stocks rose off their worst levels during US hours on Friday as the latest flare-up in Middle East tensions seemed contained – with a flight to bonds, gold and the US dollar waning. Oil fell.
The Dow Jones Index rose 0.6 per cent after Tehran downplayed reports of an Israeli strike on Iran. US Treasury 10-year yields dropped to 4.62 per cent – almost erasing an earlier plunge. The US dollar was little changed, with the Australian dollar trading at US64.19¢ near 6am on Saturday Sydney time, well off Friday’s lows.
Bloomberg and Reuters
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