Stops hit as WTI crude oil drops through $70 to the lows of the year

It’s a tough day for risk assets and it’s getting worse following a dismal consumer confidence reading and signs that Congress won’t be able to easily pass Trump’s tax cut without doing some major spending cuts.

Stocks are dropping and yields are falling.

The risk off mood has also hit crude oil, which hit stops on a break of $70. It’s now down $1.13 to $69.54, which is the lowest since December 27.

This article was written by Adam Button at www.forexlive.com.