Oil Bear Market Drops Stocks; China in MSCI Index: Markets Wrap
- Crude falls below $43 a barrel on supply glut concerns
- China A shares to enter emerging market index starting in May
Bank, Tech Ratio Has Climbed From 5-Year Low
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U.S. stocks fell the most in a month, retreating from all-time highs as crude oil slid into a bear market on concern the global supply glut will persist. China’s yuan got a small bump after MSCI Inc. added the nation’s domestic stocks to its emerging-markets index.
The S&P 500 Index lost 0.7 percent for its biggest decline since May 17 as energy producers and companies whose profits are most linked to economic growth, including makers of non-essential consumer goods and industrial producers, led declines. The dollar rose as Fed officials continued to reiterate a moderately hawkish stance on monetary policy. Treasuries rose.