Economics
U.S. Stocks Drop With Global Equities as China Data Spark Angst
- Norwegian krone, Aussie lead commodity-linked currency slump
- Crude extends losses at six-year low as energy shares slide
China Exports Fall for a Fifth Month
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U.S. stocks joined a selloff in global equities, while currencies of commodity-producing nations tumbled as fresh signs of weakness in China’s economy rekindled concern that a slowdown there could spread.
The Standard & Poor’s 500 Index fell for the fourth time in five days as crude extended losses at a six-year low. Emerging-market shares also declined as a slump in Chinese trade intensified concern over the scope of the economy’s weakness. Iron ore fell to an historic low. Oil’s slide drove a rally in long-term government bonds from the U.S. to Germany one week before the Federal Reserve is predicted to raise interest rates.