Economics
Stocks Tumble as Bonds Rise on Global Growth Woes; Oil Slides
- Retailers slump on sales data while Cisco slides on earnings
- S&P 500 halts six-week rally with worst week since August
Are Global Economies Stuck in Sub-Trend Growth?
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Deteriorating growth outlooks in Asia and Europe and weaker-than-forecast U.S. retail sales dragged stocks lower while Treasuries gained. Oil dropped to extend a selloff in commodities.
U.S. stocks capped their worst week since August amid concern growth remains uneven as policy makers consider raising interest rates as soon as next month. European shares tumbled after growth in the region missed analysts’ estimates. Treasuries rose, pushing yields to the lowest in a week. Oil slid in New York, trading near a two-month low.