"I think the markets
overreacted...emotions took over," said Kate Warne, investment
strategist at Edward Jones, referring to Thursday's selloff.
The yield on the benchmark 10-year Treasury note fell to 2.275%, from 2.328% Thursday .
The euro fell 0.5% against the U.S. dollar to $1.0885 Friday, after
rising 3.1% Thursday. The dollar rose 0.4% against Japan's yen to
Yen123.1160.
The Stoxx Europe 600 fell 0.4% Friday after falling 3.1% Thursday--its biggest daily loss since August.
ECB President Mario Draghi sought to reassure investors Friday. The
central bank would "no doubt" step up stimulus measures if needed, Mr.
Draghi said at an Economic Club of New York event.
"I think [Draghi] is putting in a little bit of work to explain more
clearly what the ECB was doing yesterday," said Shaun Osborne, chief FX
strategist at Scotiabank. "It's very possible that they are back at it
next year."
Gold futures rose 2.1% to $1,084.50. If
the Fed raises rates slowly, as investors expect, it could be good news
for gold prices, which struggles to compete with yield-bearing
investments when borrowing costs rise.
In Asia on
Friday, Japan's Nikkei Stock Average fell 2.2%, Australia's S&P/ASX
200 fell 1.5%, and the Shanghai Composite Index fell 1.7%.
December 04, 2015 20:20 ET (01:20 GMT)
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