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Market Update: U.S. Stocks Tumble as Global Rout Spreads

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All major U.S. equity benchmarks were in the red, with the S&P 500 Index dropping 1.5%. Treasuries suggested traders were cutting bets on monetary tightening by the Federal Reserve. The Japanese yen emerged as the main haven currency of the day, with the dollar falling. Oil tumbled and gold climbed.

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