Stocks Fall as Energy Prices Drop, Treasuries Rise on Fed Bets
- Apple rises in late trading after reporting earnings
- Fed commentary in focus as few traders expect rate increase
This article is for subscribers only.
Declines in oil and natural gas rippled through world markets, weighing on equities as the Federal Reserve began a two-day meeting amid fresh jitters over the strength of the global economy and the threat of deflation.
The Standard & Poor’s 500 Index slid for a second day, with energy shares leading declines as West Texas Intermediate tumbled to a two-month low. Natural-gas contracts rebounded after dipping below $2 for the first time since 2012. Apple Inc. rose in late trading after forecasting holiday sales that would set a company record. The yield on the benchmark 10-year Treasury note touched 2.01 percent.