Stocks Fall for 2nd Day; Dollar Slips With Bonds: Markets Wrap
- Beijing retaliates by ordering American consulate to close
- Five-year Treasury yields touch all-time low; gold advances
This article is for subscribers only.
U.S. stocks fell for a second day as investors grew anxious about rising tensions with China and a potential stalling of the economic recovery. Spot gold topped $1,900 an ounce for the first time since 2011.
The S&P 500 ended the week lower and the Nasdaq 100 notched its first back-to-back losses in 49 days. Intel Corp. plunged on a warning of a production delay. Rival chipmaker Advanced Micro Devices Inc. gained. Verizon Communications Inc. gained after topping sales estimates, somewhat offsetting Intel’s drag on the Dow Jones Industrial Average.