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Global Markets: Dollar hits five-month high, Italian stocks slide

Reuters  |  NEW YORK 

By Lewis KrauskopfNEW YORK (Reuters) - Italy's borrowing costs jumped on Wednesday and the country's stocks slid after reports that the two parties seeking to form Italy's next government might seek debt forgiveness, while the U.S. dollar rallied further to a five-month high.Investors were digesting Tuesday's surge in U.S. bond yields on the heels of a retail sales report that fueled the dollar and hurt stocks.The benchmark 10-year yield held well above 3 percent after bursting through key technical levels on Tuesday. "The combination of higher oil prices, higher dollar and stronger yields ...

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First Published: Wed, May 16 2018. 21:12 IST