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Global stocks weaken and crude gains after revolt in Russia

Turkish lira hits record low against dollar after central bank loosens rules restricting dollar holdings
Traders say the immediate impact of the shortlived mutiny in Russia on the country’s crude output remained uncertain

Global markets took on a tentative tone on Monday as investors struggled to gauge the impact of the weekend’s shortlived armed revolt in Russia and continued to contemplate a general weakening economic outlook.

Wall Street’s benchmark S&P 500 closed 0.4 per cent lower, while the tech-heavy Nasdaq Composite ceded 1.2 per cent.

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