U.S. Stocks Pare Advance as Health-Care, Industrials Trim Gains
- S&P 500 trims drop of 1 percent on Deutsche Bank report
- American crude slides below $28 a barrel amid price swings
David Stockman: Markets Going to Be Mauled by Bear
Volatility flared on global financial markets, as U.S. stocks attempted a rebound that prevented global equities from entering a bear market. Crude oil maintained its march lower, while Treasuries held onto gains with gold amid demand for haven assets.
The Standard & Poor’s 500 Index ended Tuesday down 0.1 percent after rallying as much as 0.8 percent in afternoon trading on speculation Deutsche Bank AG is considering buying back several billion euros of debt. The lender’s U.S.-listed shares pared a drop of almost 5 percent after the Financial Times reported on the possible bond repurchase. U.S. oil slipped below $28 a barrel, while 10-year Treasury notes climbed a fourth day after yields on similar maturity Japanese bonds fell below zero. The yen and euro strengthened.