American Markets: DOW JONES: 12393 - 6 NASDAQ: 2791 + 2
USDINR: 44.58 -0.12 EURINR: 63.39 +0.10
GBPINR: 71.55 +0.08 EURUSD: 1.41 +0.00
GBPUSD: 1.60 -0.00 USDJPY: 83.55 +0.42
S&P 500 Erases Gain, Bonds Drop on Concern Fed to Remove Stimulus Measures: U.S. stocks erased gains, preventing a third straight advance in the Standard & Poor's 500 Index, and Treasuries dropped amid concern the Federal Reserve will begin removing stimulus measures. Oil fell from a 30-month high, while gold climbed to a record. Portugal's bonds slid. The S&P 500 slipped less than 0.1 percent to 1,332.63 at 4 p.m. in New York after earlier climbing as much as 0.4 percent. U.S. stocks began reversing an earlier advance as minutes from the Federal Reserve's policy meeting last month showed central bankers differed over whether to begin removing record stimulus this year as they debated the path of monetary policy following the completion of their $600 billion bond-purchase program. Boeing Co. helped lead the Dow Jones Industrial Average down from an almost three-year high amid concern inspectors will find more problems with its 737 jets.
Asian Markets: NIKKEI: 9602 -16 HANG SENG: 24213 + 63 KOSPI: 2112 - 9 SGX NIFTY 5934 + 8
Asian Stocks Decline on Concern Federal Reserve May Withdraw U.S. Stimulus: Asian stocks declined, sending the regional benchmark index lower for a second day, amid growing concern the Federal Reserve will withdraw stimulus measures and after China raised interest rates. The MSCI Asia Pacific Index declined 0.4 percent to 134.63 as of 10:16 a.m. in Tokyo, with about seven stocks declining for every six that gained. The gauge rose for the past two weeks as Japanese companies began resuming production after the nation's worst earthquake on record last month and as Chinese firms posted profits that beat analyst estimates.
Japan's Nikkei 225 (NKY) Stock Average fell 0.2 %, erasing gains of as much as 0.6 %earlier. South Korea's Kospi Index was little changed. Australia's S&P/ASX 200 Index lost 0.2% and New Zealand's NZX 50 Index declined 0.5%.
European Markets: FTSE: 6007 -10 CAC: 4041 - 1 DAX: 7175 - 1
Three stocks declined for every two that gained in the Stoxx Europe 600 Index, even as the gauge rose 0.2 percent. The MSCI Emerging Europe, Middle East and Africa Index slipped 0.1 percent after the People's Bank of China raised its one-year lending and deposit rates by 25 basis points, effective tomorrow, its fourth increase since the global financial crisis. The iShares FTSE China 25 Index Fund (FXI) slipped 0.8 percent. Russia's Micex Index lost 0.2.
The slump in Portuguese bonds came after Moody's cut its rating on the nation's debt for the second time in three weeks, saying another downgrade may follow and the winner of elections in June will probably tap Europe's bailout fund with "urgency."
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