U.S. Stocks Drop Again as Trade Tensions Persist: Markets Wrap
- Crude falls below $60; 10-year yield at lowest since 2017
- European shares drop; investors seek refuge in yen and gold
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U.S. stocks retreated further on Thursday and investors sought refuge in gold and bonds as the world’s two largest economies hardened their trade-war stances. The yen gained against the dollar, while 10-year Treasury yields fell to their lowest since 2017.
The S&P 500 Index dropped for a fourth session in five, and the Dow Jones Industrial Average lost 286 points, after the Chinese Communist Party’s flagship newspaper published two commentaries assailing U.S. moves to curb Chinese companies.