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dollar climbed against the yen on speculation Federal Reserve Saucony Quiet Life
Chairman Ben Bernanke will not unveil dramatic measures to rescue the economy on Friday.
"Over the last couple of days, we have gone from pure excitement about QE3 to being far more muted. I suspect there has been some positioning for a slightly more mundane speech coming from Bernanke," said Camilla Reebok Nano 5
Bernanke is due to address central bankers at an annual symposium in Jackson Hole, Wyoming, Friday. economy under a policy that was termed the second round of quantitative easing.
The MSCI world equity indexfell 1 percent. The benchmark index, however, is on track to post its first weekly gain in five weeks, having hit an Saucony Trail Shoes Womens
Stocks fall on German weakness
Gold extended its sharp decline after posting its biggest daily drop in futures since 1980 on Wednesday. Spot gold was down 1.6 percent at $1,722.50 an ounce. It hit a record high of $1,911.46 earlier in the week.
11 month low earlier this month.
Gold prices had jumped about $400 since July as worries about a global recession sent investors scrambling for the safe haven asset.
Sutton, senior currency strategist at Scotia Capital in Toronto. economy is headed for another recession and how far the euro zone debt crisis may spread.
The dollar rose to a two week high against the yen, up 0.5 percent to 77.41 yen moving further away from a record low of 75.941 set on trading platform EBS last week.
Stocks in Europe and the United States fell amid trader talk that a short selling ban may be enacted in Germany after the market's close. Germany's DAX was down 2.1 percent. stocks turned lower, with shares of Apple falling after the resignation of its chief executive, Steve Jobs. Bank shares Saucony Grid 9000 rose, however, after Warren Buffett's Berkshire Hathaway said it would invest $5 billion in Bank of America.
While many doubt Bernanke will immediately commit to conducting a third round of quantitative easing, investors generally expect him to stress that the central bank stands ready to act if necessary.
The euro steadied above $1.44, supported by a brief jump in risk appetite after Berkshire Hathaway said it would invest $5 billion in Bank of America . Any more printing of money by the Fed would pressure the dollar, potentially triggering a spike in commodity prices as it did last year.
European stockswere down 1.2 percent.
On Wall Street, the Dow Jones industrial average was down 104.14 points, or 0.92 percent, at 11,216.57. The Standard Poor's 500 Index was down 10.11 points, or 0.86 percent, at 1,167.49. The Nasdaq Composite Index was down 25.85 points, or 1.05 percent, at 2,441.84. bank by buying a big chunk of Bank of America preferred stock. Shares of the Dow component jumped 17 percent to $8.16 but are still down for the month.
The fall came after CME Group raised trading margins on bullion futures by about 27 percent, the biggest hike in more than two and a half years and the second increase in a month.
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