U.S. Stocks Fall Amid Retailer Slump as Oil Climbs; Dollar Falls
- Industrial metals rally from one-month low, led by zinc
- Japan stock futures signal declines following yen rebound
Market Volume Muted by Paralyzing Power of Volatility
U.S. stocks tumbled following their biggest gain in two months, as disappointing results from Walt Disney Co. to Macy’s Inc. raised doubts about the strength of the American consumer. Oil rose after an unexpected drop in inventories, while the dollar fell.
The S&P 500 Index retreated for the first time in four days, while the Dow Jones Industrial Average erased all but five points of its Tuesday advance. Retailers led declines as Disney sank the most since January and Macy’s led a selloff in apparel shares. Energy producers rallied as U.S. oil surged past $46 a barrel. Industrial metals also climbed as Glencore Plc forecast demand will exceed supply. Brazilian shares fell, while the real climbed as the Senate geared up for a vote that could oust the president.