Economics
Stocks Buckle Amid Pessimism on Virus; Bonds Rise: Markets Wrap
- Crude oil falls in the biggest one-day drop in almost a week
- Dollar is little changed against most major currency peers
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U.S. stocks fell for the first time in four days as worrying increases in coronavirus cases overtook optimism about stimulus measures. Treasury note yields fell and the dollar was little changed.
The benchmark S&P 500 Index swung between gains and losses for most of Wednesday before turning red late, with the energy, real estate and financial sectors leading the declines. Apple and Microsoft helped the Nasdaq Composite close positive. Infections increased from China to Brazil and Iran warned it may need a new lockdown. Texas reported a surge in hospitalizations.