U.S. Stocks Tumble in Global Selloff on Bets Fed Lifeline to End
- S&P 500 Index drops most in a month following equity rally
- Bets on December rate increase from Fed hover at 68%
Should Investors Be Concerned Over a Strong U.S. Dollar?
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The increased prospect that six years of near-zero U.S. borrowing costs may soon be brought to an end rippled through global markets, as companies hurt most by the stronger dollar led a selloff in American equities and bonds fell with emerging-market assets.
The Standard & Poor’s 500 Index sank the most in more than a month, with large companies from Caterpillar Inc. to Nike Inc. driving losses. A gauge of stocks worldwide sank the most in three weeks. The dollar wax near its highest level in a decade following a four-day rally, as a gauge of emerging-market currencies slumped to a five-week low. Yields on 10-year Treasuries climbed a sixth straight day, while oil retreated.