U.S. Stocks Battered by Trade, Yield Concerns: Markets Wrap
- Thirty-year bonds lead rally in Treasuries after inversion
- S&P 500 Index tumbles 3.2%, the most since Oct. 10 sell-off
This article is for subscribers only.
U.S. stocks plunged, with the Dow Jones Industrial Average tumbling almost 800 points, as a litany of concerns wiped out the rally in risk assets.
Trade-sensitive shares sank as angst mounted that the U.S. and China made no meaningful progress on the trade front this weekend. Financial shares got hammered as the yield curve continued to flatten, with the latest nudge from a hawkish comment by a Federal Reserve official.