Global stocks eased from two-month highs on Wednesday while the safe-haven dollar fell, after Poland’s president said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears that it originated from Russia. Initial relief was enough to encourage some flows back into equities and commodities, but given the gains of the last couple of weeks, investors took the news as an opportunity to book profits, given the vulnerability of the economic backdrop in Europe and China.
