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Wave of Ukrainian Strikes Kills at Least 4, Russia Says The New York TimesUkraine attack ‘largest in over a year' on Moscow, Russian state media reports CNNUkrainian drones hit Moscow and surrounding area, killing three The Washington PostAt least four people killed in Russia as Ukraine launches retaliatory strikes The GuardianUkraine conducts large-scale drone strikes on Russia, killing 4 and woundin
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The top foreign holders of US debt may soon dump Treasury bonds and bring their money back home FortuneJapanese Funds Dump Most US Debt Since 2022 as Fed Wagers Flip Bloomberg.comJapanese investors sell foreign stocks in April as energy costs rise ReutersJapan's $33B U.S Treasury sell-off in Q1 reignites Bitcoin vs Gold debate AMBCrypto
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At least four people killed in Russia as Ukraine launches retaliatory strikes The GuardianUkraine attack ‘largest in over a year' on Moscow, Russian state media reports CNNIndian among dead in mass Ukrainian drone strike in Russia; Zelenskyy calls attack 'justified' The Times of IndiaUkrainian drones hit Moscow and surrounding area, killing three The Washington Post
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Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
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"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
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As for stocks, the tech-heavy Nasdaq Composite
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