S&P 500 Halts Record-Breaking Run as Bonds Slide: Markets Wrap

Stocks fell from all-time highs as Donald Trump intensified his trade offensive, sending the dollar to its best week since February. Concerns about the potential inflationary impacts of tariffs weighed on Treasuries, while oil traders braced for US efforts to crimp Russian energy exports.

Following a rally that drove the S&P 500 to its fifth record in nine trading days, equity bulls took a breather. While almost 400 shares in the benchmark retreated, gains in most megacaps pushed the market away from session lows. Kraft Heinz Co. climbed on news reports that the company is preparing to break itself up. The six biggest US banks are set to report earnings next week, with analysts predicting trading-revenue increases.