Stocks Close at Records, Dollar Slips as Fed Looms: Markets Wrap
- Sterling finds support as U.K. PM seeks to prop up government
- Treasury yields steady as Fed meeting starts; gold slips
Tech Selloff Seen Easing in Asia-Pacific
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U.S. stocks snapped a two-day slide to close at fresh records as technology shares rebounded from the worst drop of the year. The dollar weakened and Treasuries were steady as the Federal Reserve policy meeting kicked off.
The Dow Jones Industrial Average and the S&P 500 Index ended at all-time highs, while the Nasdaq 100 Index bounced back from its biggest two-day drop since September. European and emerging-market equities advanced. Sterling rose for the first time since the U.K. election. Ten-year Treasury yields held near 2.21 percent and the dollar slipped versus major peers before the Fed is projected to raise rates Wednesday.