U.S. Stocks, Treasury Yields Fall as Oil Retreats: Markets Wrap
- Producer prices beat expectations ahead of inflation report
- Gold turns higher, erasing drop, while copper futures fall
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U.S. stocks slipped amid signs of a commodities glut and uncertain prospects for American tax cuts, while the dollar lost the most since September as the American yield curve flattened further ahead of inflation data.
The S&P 500 Index fell for the third time in four days. Energy and materials producers led losses as Bloomberg’s commodity index declined the most in six months. Crude slid the most in more a month after a tepid demand forecast. Miners led Europe’s equity benchmark to its longest slide in a year. The greenback touched a three-week low, while the euro soared on optimism over the region’s economy.