Pursuits
Stocks Decline on Earnings as Draghi's Remarks Spur Euro Slide
- Traders seen waiting until December for changes to ECB policy
- Oil falls from 15-month high on Russia comments, Nigeria price
Draghi: ECB Did Not Discuss QE Extension Beyond March
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Stocks halted a two-day rally as traders assessed earnings from some of the world’s largest companies. The euro fell after Mario Draghi said the region’s central bank hasn’t discussed extending or tapering stimulus.
Equities slumped as lackluster forecasts from Nestle SA to EBay Inc. outweighed optimism with American Express Co. and Deutsche Lufthansa AG’s projections. The European currency slid against most major peers and German bond yields dropped on speculation traders will have to wait until at least December for news on policy changes. Crude sank as Russia’s largest oil company said the country could boost production, while Nigeria lowered prices.