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Stocks Fall, Treasuries Rise as Commodities Slump: Markets Wrap

  • Inflation picks up, retail sales strong in latest data
  • Crude oil trims losses after supply report; gold declines
Bloomberg business news
Vincent Juvyns, global market strategist at JPMorgan Asset Management, discusses his oil strategy and global markets.Daybreak: Europe. (Source: Bloomberg)
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U.S. stocks fell to a three-week low, while the dollar slumped with Treasury yields as concerns persisted over global growth and the prospects for tax cuts.

The S&P 500 notched its fourth drop in five days, retreating from near session highs in the final half hour of trading on a report that a key Republican opposes the Senate’s latest tax bill. Energy shares led declines as crude continued its slide toward $55 a barrel. A renewed commodities slump overshadowed data showing the U.S. consumer remains robust, while inflation data helped boost bank shares.