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Stocks Decline as Oil Tumbles, Dollar Rallies: Markets Wrap – Bloomberg

  • Trump list targets $200 billion more China goods for tariffs
  • Japanese yen, Chinese yuan slip; metals, crops futures drop

U.S. stocks fell as crude plunged the most in two years and the dollar spiked higher amid renewed tensions over trade and geopolitics.

The S&P 500 dropped the most in two weeks, as energy and material producers tumbled at least 2 percent on renewed angst that the Trump administration’s trade stance will damp demand for commodities. Oil’s retreat took West Texas crude toward $70 a barrel, while metals and crop futures also slid. Caterpillar Inc. and Chevron Corp. led losses in the Dow Jones Industrial Average, and emerging-market equities fell the most since the end of June.

The dollar saw the biggest rise in a month, while the Japanese yen and Chinese offshore yuan dropped. Ten-year Treasury yields fell for the second day in a row.  Read More…