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Asia stocks dealt body blow as China exports tank

Updated : March 08, 2019 11:08 AM IST

ECB President Mario Draghi said the economy was in "a period of continued weakness and pervasive uncertainty" as he pushed out a planned rate hike and instead offered banks a new round of cheap loans.
Yields on German and French 10-year bonds dived to their lowest since 2016, while banking stocks took a beating. The euro duly sank to depths last seen in mid-2017, sending the safe-haven US dollar and yen surging.
Oil prices eased in early trade, but found some support from OPEC-led supply cuts and US sanctions against exporters Venezuela and Iran.

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