NEW YORK – Stocks slumped worldwide on Friday despite a drop in bond yields, as rattled investors did not step in to pick up bargains.
The dollar rose against its main rivals in anticipation of the US Congress later Friday voting later Friday on President Joe Biden’s enormous $1.9-trillion economic rescue package.
Oil prices fell after striking 13-month peaks Thursday on keen demand.
Vaccine rollouts, slowing Covid-19 infection rates, and Biden’s stimulus package have sent stocks up in recent weeks. But that good news is proving to be a double-edged sword for traders as they weigh the much-needed return to pre-pandemic life against the prospect that pri…
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