Global Stocks Slip With Crude as Lenders Wobble; Dollar Advances
- Greenback reaches highest since July as S&P 500 retreats
- Deutsche Bank slumps as it faces $14 billion DOJ claim
The Week Ahead for the Markets and Fed
Global stocks fell as renewed selling in crude that took oil to a one-month low sank energy shares, while the Department of Justice’s proposal to settle crisis-era claims against Deutsche Bank AG rattled the financial sector. The dollar advanced to its highest since July.
The S&P 500 pared a weekly gain as lenders and energy producers slid more than 0.8 percent. The Stoxx Europe 600 Index capped its worst week since June, with Deutsche Bank plunging 8.5 percent after saying the DOJ is seeking $14 billion to settle claims of mortgage-backed securities sold during the housing boom. Russia’s ruble and bonds slipped after its central bank cut interest rates. The dollar climbed amid U.S. inflation data. Germany’s 10-year yields fell below zero for the first time in a week.