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The bond market is failing its haven role and that could spell trouble for the long bull market in stocks
Is this the big one? Not even close, but there is something unusual and unsettling afoot in financial markets.
A loss of 831 Dow points just isn’t what it used to be—the 3.1% drop in the index was only the 80th biggest decline since the 1950s and not even the worst this year. But the way that other asset classes reacted is notable.