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Amid a flurry of commentary from global financial leaders at the International Monetary Fund and World Bank Spring meetings in Washington, and with many markets having undergone huge moves in recent weeks, investors are taking a bit of a time out.The relentless bond selling of late reversed on Wednesday and pushed yields lower, gold flatlined again, oil tumbled 3% for its biggest fall in over two months, and stocks wobbled.
On the equity front, the correction that appears to be developing in some quarters gathered momentum on Wednesday, despite a notable decline in bond yields and the dollar's first daily loss in seven. Finance leaders from the United States, Japan and South Korea, meanwhile, agreed to"consult closely" on FX markets in their first trilateral meeting on Wednesday, nodding to concern by Tokyo and Seoul over their currencies' recent sharp declines.
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