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Treasuries have been stuck in the red all session. Results from today's auction of 5-year Notes didn't help their position.
Weakness among materials stocks is widespread, but steel stocks are being hit with some of the hardest selling. In turn, AK Steel (AKS 16.43, -0.53) has handed back some of the gain that it had made in the prior session. Meanwhile, U.S. Steel (48.21, -1.51) has extended its prior session slide to set a new multi-month low. Following an earnings miss yesterday, shares of X were downgraded by analysts at Goldman Sachs.
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