US stocks slide, oil surges, gold rallies

News Snapshot:

The local currency slipped 0.3 per cent, falling below US63¢; the Bloomberg dollar spot index edged higher. On bitstamp.net, bitcoin was 0.2 per cent higher to $US27,766 at 6.30am AEDT. The yield on the US 10-year note slid 8 basis points to 4.62 per cent at 4.08pm in New York. On Wall Street, shares also reflected a deterioration in Americans’ expectations for inflation and their overall finances. The University of Michigan’s consumer sentiment index tumbled to 63 from 68.1. The index “is well below its long-term average of 86 and the renewed weakening could be evidence that a slowdown in...