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U.S. Stocks Slip, Dollar Mixed as Gold Advances: Markets Wrap

  • Equities mixed in holiday trading; Treasury market closed
  • Turkey’s lira plunges as U.S. tension escalates; gold gains
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Turkish Lira Plunges to a Record Low

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U.S. stocks retreated in light trading, while the dollar held in a tight range as investors assessed the latest political developments in Washington before the start of earnings season. Turkey’s lira tumbled amid tensions with America.

The S&P 500 Index faded in afternoon trading that was 18 percent below the 30-day average at this time of day, with General Electric Co.’s biggest loss since June 2106 creating the biggest drag. Treasury markets were closed for the Columbus Day holiday. The Stoxx Europe 600 Index rose. Gold and West Texas crude oil advanced. The lira plunged to a record low against a basket of currencies.