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Trump Concern, Manchester Blast Spur Risk-Off Tone: Markets Wrap 

May 22, 2017

Adam Heigh, Bloomberg Markets

The yen rose and U.S. equity-index futures fell as investors took a cautious approach amid the latest reports on the Trump administration and a suspected terrorist attack in the U.K.

The Japanese currency rose against all its major peers and S&P 500 futures dropped after the Washington Post reported Donald Trump asked intelligence chiefs to publicly deny any collusion between his campaign and Russia. The pound slipped after U.K. police said they are treating a blast that resulted in at least 19 deaths at a concert in Manchester as possible terrorism. The Mexican peso slid after S&P said it may cut Brazil’s sovereign credit rating. Noble Group Ltd. shares plunged amid concerns over a default.

Political wrangling in Washington returned to the fore, taking the focus away from global economic growth. The U.S. president in March asked Director of National Intelligence Daniel Coats and NSA Director Michael Rogers to publicly deny existence of any collusion between his campaign and the Russian government, the Washington Post reported, citing unidentified current and former officials.

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