Global stocks sink to four-week low, dollar stands tall

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Reuters

By Ritvik Carvalho LONDON (Reuters) – Global stocks dropped to a four-week low on Monday after last week’s surprise hawkish shift by the U.S. Federal Reserve reduced the allure of riskier assets, while the dollar held gains and stood near a 10-week high. European stocks opened lower, but the pan-European STOXX 600 index erased early losses to trade flat on the day, helped by a rise in German and Italian shares. Britain’s FTSE 100 was off 0.05%, France’s CAC 40 index fell 0.3%, and Spain’s IBEX 35 fell 0.6%. MSCI’s All Country World Index, which tracks shares across 49 countries, was down 0.3% …

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