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U.S. Stocks Fall, Dollar Gains as EM Assets Wobble: Markets Wrap

  • Nike, Facebook weigh on major averages after holiday weekend
  • EM currencies head for 2018 low, South Africa enters recession
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Euphoria Around Mexico Trade Deal Is Over, Richards Says(Source: Bloomberg)
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U.S. stocks fell, Treasuries weakened and the dollar climbed as trade tensions persisted and emerging markets remained under pressure.

The S&P 500 started September on the back foot as Nike Inc.’s politically controversial ad campaign and Facebook Inc.’s analyst downgrade weighed on major averages. With the exception of Ford Motor Co., all major automakers reported sales that trailed analysts’ estimates. surged past $1 trillion in market value boosting consumer shares. Metals tumbled as the dollar advanced, roiling mining stocks. The greenback added to gains after a reading of U.S. factory output surged.