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Stocks Drop From Record Highs; Treasuries Gain: Markets Wrap

  • S&P 500, Nasdaq set intraday highs for fifth straight session
  • Yields fell after U.S. inflation data rose less than forecast
Bloomberg business news

WATCH: The Trump administration on Monday lifted its designation of China as a currency cheat.

Source: Bloomberg
Updated on

U.S. stocks retreated from all-time highs after Bloomberg reported that tariffs on billions of dollars of Chinese goods will likely stay in place until after the presidential election.

The S&P 500, Nasdaq Composite and Dow Jones Industrial indexes all pulled back from records as the conditions underscored lingering concern about future progress in negotiations. Positive results from big banks had driven prices higher. Treasuries climbed earlier after a gauge of underlying inflation rose less than forecast.