Premarket: Stocks, dollar sag as data point to flagging U.S. economy [Globe and Mail, The (Toronto, Canada)]
![Globe and Mail, The](../../../Content/images/providers/Globe and Mail, The.png)
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Source: Globe and Mail, The
manufacturing activity further weakened , in turn pushing the dollar to multi-month lows. In India, share markets sold off sharply after early vote counting showed Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance was not headed for a landslide win as predicted. The U.S. dollar skimmed its lowest in over two months against the euro and the British pound, while U.S. government bond yields have retreated over the past six weeks, as investors have bought into the idea that the economy is slowing enough to warrant rate cuts this year. “It is understandable why the market behaved as it did in the first quarter, but if one looked at broader indicators, there have always been certain signs that maybe the story isn't quite as strong as might have been expected,” Daiwa Capital economist Chris Scicluna said. “Most people would have assumed that where the fed funds rate is right now is in restrictive territory. That is bearing down on underlying inflation and bearing dow
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