US dollar index crashes near 103 mark following tumble in US stocks

The US dollar index slumped today, adding to recent losses and testing fresh four month low. Modest gains were seen in last session but the US currency has failed to sustain them and fell further under 104 mark. It currently trades down 0.58% at 103.34. US equities were rattled yesterday as uncertainty about President Donald Trump's tariff action and fears of a recession in the world's largest economy weighed on the sentiments. Markets were jittery ahead of reports on consumer and producer price inflation and readings on consumer sentiment and inflation expectations. The Dow tanked 2% while the S&P 500 lost 2.7%. The Nasdaq dropped around 4%, marking an outright collapse for the US stocks on Monday.

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