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Treasuries Climb With Gold While U.S. Stocks Drop: Markets Wrap

  • Haven assets stage comeback as energy shares lead retreat
  • Crude declines amid an uptick in U.S. drilling activity
Bloomberg business news

Gallo: Be Careful of Markets at 'Euphoric Levels'

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Treasuries rose with gold as an advance in riskier assets faltered amid uncertainty over the U.K.’s future trading role with Europe. Most U.S. stocks slumped as energy shares retreated with the price of crude oil.

The S&P 500 Index slipped from a record as the Dow Jones Industrial Average retreated below 19,900. Sterling fell to a 10-week low as angst over political risk rippled across foreign-exchange markets with the Turkish lira and South Korean won leading declines. Yields on 10-year Treasury notes slid below 2.40 percent, while gold racked up its first two-day advance since the U.S. presidential election. Oil fell for the first time in four days.