Dollar plunges in broad selloff, stocks fall
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The dollar slumped against the euro and yen and stocks fell on Thursday as investors turned defensive ahead of growing worry that Friday's U.S. jobs report will disappoint.
Wall Street slipped, extending losses after a 1.9 percent drop in the previous two days, as the S&P 500 fell through its 50-day moving average, an indicator of a weakening trend.
Investors were actively moving away from long positions in the dollar against the yen and in both U.S. and Japanese stocks. Nikkei futures slumped more than 3 percent in electronic trading after another decline in Japan's markets during the regular trading session.
Sentiment in the market seems to have shifted in the last couple of hours toward worry that the monthly U.S. nonfarm payrolls report will be weaker than expected after several lackluster economic data points this week.
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