Markets Pullback From Recent Highs

Stock’s weakened Tuesday, with the S&P giving up 1.25% and the Nasdaq shedding 1.4%. The Dow declined about 1.2%. Weakness was tied to strong economic data this morning, including housing starts and durable goods orders. The strong data stoked ongoing concerns about Fed tightening, causing markets to slip from recent highs.

VIX, also known as the fear, index advanced 19%, while gold, crude and related equities weakened amid dollar strength.

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