U.S. Stocks Fall Amid Rate Concerns as Commodity Shares Tumble
- Traders assess comments from Fed speakers on outlook
- S&P 500 falls further after approaching record last week
Mario Draghi Dovish on European Economy
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U.S. stocks fell the most in six weeks as a rout in commodities pressured energy and raw-materials providers while investors braced for the first rise in interest rates since 2006.
Chevron Corp. dropped 2.5 percent and miner Freeport-McMoRan Inc. sank 5.8 percent as the stronger dollar and a persistent slump in demand from China sent the Bloomberg Commodity Index to the lowest since 1999. The recent weakness in commodity shares is a turnabout after energy and raw-materials helped drive a rebound from a summer correction and in October had their strongest month in four years.