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Stocks slip as U.S. Treasury yields fluctuate

The euro edged higher ahead of Thursday’s European Central Bank rate decision. German bund yields were little changed.
Equities were mixed across Asia as technology shares pared early gains and financials declined. The dollar steadied close to its highest in three months, while Treasuries fluctuated.

Korean and Japanese shares rose while those in China and Hong Kong pushed lower. Tech stocks and Nasdaq futures fell from intraday highs even as positive earnings from technology heavyweights including Samsung Electronics Co. and Facebook Inc. buoyed sentiment toward a sector that has been fragile of late.

The euro edged higher ahead of Thursday’s European Central Bank rate decision. German bund yields were little changed.

Investors are weighing the ability of global equities trading in some cases at still-elevated valuations, to cope with higher interest rates as the earnings season ramps up. Signs of optimism from Facebook and Samsung are offsetting pockets of concern around technology and industrial companies that have weighed on stocks this month.

Elsewhere, crude oil pushed further above $68 a barrel as French President Emmanuel Macron predicted U.S. President Donald Trump will withdraw from the Iran nuclear deal, casting a cloud over Middle East geopolitics. A U.S. withdrawal, which isn’t backed by any of the other five countries that are part of the agreement, would lead to a period of increased tensions and uncertainty, Macron said.

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