April 28th is in the books on Wall Street. And it has been a day of further disappointment in US stock markets, rounding out a mixed week for the market, in which investor focus centred on the brevity of detail in President Donald Trump's proposed tax reform, following relief over the result of the French election.
Investors took the chance to pile into exchange-traded products that track the CBOE's VIX Index, known as Wall Street's fear gauge, after the measure dropped close to its post-crisis lows. Financials fell for the second day in a row, further eroding gains made earlier in the week.
In bond markets, the 10-year US treasury yield, which moves inversely to price, sank in the afternoon, following the worst first quarter GDP reading in three years for the US. The 10-year finished the week below 2.3%. Still higher than its close last week.
The market implied probability of the Federal Reserve raising interest rates when policymakers meet in June has risen over the past week, from roughly 50% to a 70% probability. Oil prices ended a volatile week, edging higher. Gold prices also moved up, while the dollar traded flat for the day.