World News: 22:07 GMT Wednesday 12th June 2019. [Yahoo Business News Feed via SPi World News]
Stocks closed modestly lower on Wall Street Wednesday, handing the market its second straight loss. Banks and technology companies accounted for much of the slide as investors shifted money into U.S. bonds, precious metals and other holdings considered safe havens after more than a week of aggressive buying. The Federal Reserve set off last week's rally when it signaled that it is willing to cut interest rates to help stabilize the economy if the U.S. trade war with China starts to crimp growth.
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