Stock Market Update

[BRIEFING.COM] Stocks have had a rough go of it today, but the dollar has really taken a pounding. The U.S. Dollar Index is down 1.8% to 101.03. That might not seem like much relative to the declines registered by the major indices, yet it qualifies as a major move in the currency world.

The euro (EUR/USD +2.1% to 1.1172) is the most influential mover that is weighing on the U.S. Dollar Index, but the yen (JPY/USD -1.9% to 144.97), British pound (GBP/USD +1.0% to 1.2949), and Swiss franc (USD/CHF -3.4% to 0.8274) are also making outsized moves against the greenback.

Concerns about U.S. growth prospects, worries about the U.S. budget deficit, and waning confidence in U.S. investments on the part of foreign investors due to the policy volatility are all factoring into the dollar's difficulties.

Separately, gold futures made another big move today, settling up $97.30, or 3.2%, at $3175.60/troy oz.