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Tuesday, August 27, 2013

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Wall Street stocks suffered their worst day since June on Tuesday, slumping in a broad decline as geopolitical uncertainty rose over a possible US-led military strike by the West against Syrian President Bashar al-Assad's forces. Jitters over a possible US-led military strike against the Syrian government knocked Asian equities on Wednesday, with Japan's Nikkei hitting a two-month low, and pushed oil prices and safe-haven gold to multi-month highs. The Indian currency on Tuesday hit an all-time low closing the day at 66.24 against the dollar . Currency traders say that heavy dollar demand from importers and foreign institutional investors (FII) is one of the key reasons behind the rupee's free-fall. .
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