U.S. Stocks Drop Amid Concern Recovery Has Peaked: Markets Wrap
- Treasury yields increase as U.S. markets reopen after holiday
- China posts surprise trade surge; El Salvador buys Bitcoin
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U.S. stocks slipped from near records after traders returned from the long weekend to worries that the economic recovery is faltering.
The S&P 500 and Dow Jones Industrial Average declined, while gains in heavyweight tech stocks including Netflix Inc., Amazon.com Inc. and Apple Inc. pushed the Nasdaq 100 higher even as about seven out out of every 10 stocks in that gauge dropped. European markets slipped as investors speculated that euro-zone policy makers may get ready to roll back stimulus. The greenback strengthened for a second day amid rising bond yields and softer commodity prices. Bitcoin plunged as El Salvador became the first country to adopt it as legal tender Tuesday.