Economics
U.S. Stocks Retreat as Treasuries, Dollar Rise: Markets Wrap
- Turkish lira, Russia’s ruble plunge amid disputes with U.S.
- Crude hovers near seven-week low, commodities decline
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U.S. stocks faded into the close to cap a second day of losses amid selling in industrial and financial shares. The dollar and Treasuries rallied as investors assessed the latest salvos in the trade war with China and sanctions that torpedoed the Russian ruble.
The S&P 500 Index turned lower in the final 15 minutes of trading that was more than 10 percent below the 30-day average. The Nasdaq indexes pared erased gains to end little changed. Tesla Inc. slumped under reports of regulatory scrutiny. The 10-year Treasury yield fell to 2.92 percent after producer prices stagnated last month. The greenback climbed, while emerging-market currencies weakened for a second day.