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U.S. Stocks Buck Global Selloff as Dollar Advances: Markets Wrap

  • Emerging-market equities sink to the lowest in two months
  • Oil tumbles as data show expanding gasoline inventories
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Will Hobbs of Barclays Wealth says the pullback is a “function of healthy markets.”Source: Bloomberg
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U.S. stocks put the brakes on a global equity selloff as technology shares advanced. Oil tumbled the most in two months, while the dollar strengthened amid a broad risk-off mood.

Gains in tech shares fought slumps in consumer and financial firms to a virtual draw, leaving the S&P 500 down less than a point. However small, it was the fourth loss in a row, the longest slump since March. European stocks almost erased losses following the Nikkei’s worst rout in nine months. Treasuries rose as investors’ focus turned to efforts to avert a U.S. government shutdown Saturday. Developing-nation stocks sank to a two-month low.