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Stocks Drift Lower as Oil Gains, Treasuries Fall: Markets Wrap

  • Europe shares rise while the Nikkei reaches eight-month high
  • Dollar edges down as 10-year Treasury yield hovers near 3.1%
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Vanguard's Davis Sees 'Elevated Risk of Correction"Source: Bloomberg
Updated on

U.S. stocks edged lower as oil drillers rallied with crude while industrial shares lagged behind. Treasuries fell as the Federal Reserve started its two-day policy meeting.

U.S. benchmarks were mixed, with automobile and utility shares weighing on the S&P 500 Index, while a gain for Amazon.com Inc. helped lift the Nasdaq. President Donald Trump told the United Nations that the trade deficit with China “is just not acceptable,” stoking fears of greater trade tensions. Brent oil climbed to a four-year high.