Stocks Halt Rally at Start of Key Inflation Week: Markets Wrap
- Nvidia is hit with China probe in global tech war escalation
- Oppenheimer’s Stoltzfus is top S&P 500 bull with 7,100 target
Investors are readying themselves this week for a final flurry of central bank decisions across four continents.
Photographer: Noriko Hayashi/BloombergThis article is for subscribers only.
Stocks retreated after a rally that put the market on pace for its best year since 2019, with traders awaiting key inflation data that will help shape the outlook for Federal Reserve rates.
The S&P 500 dropped from nearly overbought technical levels, following a series of all-time highs. Nvidia Corp. slid as China opened a probe over suspicions the giant US chipmaker broke anti-monopoly laws around a 2020 deal. Meantime, Chinese stocks that are listed in the US staged a sharp rally as top leaders in Beijing used their most direct language yet on providing monetary easing and boosting domestic consumption.