What you need to know on Wall Street today

Business Insider | Mar 13, 2018, 10.32PM IST

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Whether you've been a staunch bull or skeptical bear over the past few years, there have always been places to hide if you want to get away from it all.

Treasurys, gold, and safe-haven currencies like the Japanese yen and Swiss franc have been reliable hedges of sorts, providing needed fallback returns during risk-off environments.

That's no longer the case, and it's left traders with "no places to hide," says Goldman Sachs. Here's our story.

Elsewhere in markets news, Wall Street got another sign Tuesday that its worst fears about inflation have not yet been realized.

The core consumer-price index, a gauge of costs that excludes food and energy products, increased by 0.2% month-on-month in February and 2.1% year-on-year. Both prints from the Bureau of Labor Statistics were in line with economists' forecasts.

Here are some other highlights:

Big banks

In Wall Street news, a throwaway comment in a conversation with Richard Branson hints at the future of Goldman Sachs. Barclays has now run point on the 3 biggest debt deals in history - here's how it's able to punch above its weight class. And Amazon is reportedly planning to offer a new credit card tailored to the needs of small business owners.

Big deals

President Donald Trump issued an executive order Monday blocking the impending takeover of the chipmaker Qualcomm by its Singapore-based rival Broadcom. In doing so, he most likely sent millions in advisory fees for those working on the bid up in smoke. Shares of Qualcomm sank more than 5% in early trading Tuesday, while Intel hit a record high.

Lastly, Salesforce's $100 million Dropbox investment, on the eve of the IPO, could signal an acquisition.

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