Global Stocks Slip Amid Earnings; Yen Tumbles as Crude Advances
- Google, Microsoft sink tech shares as energy producers gain
- Oil caps third weekly gain, BOJ speculation sinks yen
Central Bank Concerns vs. Real World Concerns
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Global stocks fell as as investors wound back enthusiasm that had sent equity gauges to this year’s highs earlier in the week even as crude climbed to a five-month high. The yen fell the most in 17 months.
U.S. shares ended Friday mixed, with energy producers and banks carrying the Standard & Poor’s to a fourth gain in five days, while Alphabet Inc. and Microsoft Corp. tumbled after earnings disappointed, dragging the Nasdaq 100 Index lower. Crude advanced to a five-month high. U.S. natural gas futures capped the best week of the year as a supply glut narrows. Hedge funds and other large speculators are betting on dollar weakness for the first time in almost two years.