Pursuits
Stock Rally Stalls as Dollar Slides on Central Bank Speculation
- Fed, Bank of Japan meet later this week after China eases
- S&P 500, Stoxx 600 retreat after multi-week advances
Stocks Rally, but Fed Looks to ECB, PBOC Moves
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The four-week rally in global stocks stalled, while Treasuries rose and the dollar fell as central bank statements from Europe to China highlighted threats to global growth.
The Standard & Poor’s 500 Index retreated from a two-month high, with energy shares leading declines as oil slumped past $44 a barrel in New York. The Stoxx Europe 600 Index fell after three weeks of gains. The Bloomberg Dollar Spot Index lost 0.3 percent, while 10-year Treasuries halted two days of declines. Natural gas in the U.S. plunged to the lowest since April 2012.