Stocks are lower in mid-day trading while Wall Street digests yesterday's decision by the Federal Reserve to hold rates unchanged while noting significant downside risk to the American economy. Investors kept a keen eye across the Atlantic as Italy's cost of debt rose sharply.
The Euro declined below a key $1.30 level as Italy sold 3 billion euros of five year bonds that saw yields rise to a euro-era high of 6.47%. Germany had sold 4.18 billion of two-year treasury notes at a yield of $0.29%. European stocks finished the day lower.
Commodities are down as February gold contracts are down $76.30 to $1,586.80 an ounce while January crude oil contracts are down $4.43 to $95.71 a barrel.
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