U.S. stocks fell from two-month highs, Treasuries touched the lowest in almost seven years and the dollar jumped on speculation a firm American economy may push the Federal Reserve to accelerate its rate timetable.
The S&P 500 fell 0.7 percent at 11:45 a.m. in New York. The Nasdaq 100 Index lost 1.3 percent and small caps edged higher. The S&P 500 Index halted a four-day rally, ending a risk-on mood that had propelled equities to the highest since mid-March. Upbeat retail sales datafueled bets the Federal Reserve may raise rates three more times this year, pushing Bloomberg’s dollar index to the highest level of 2018 and sending the 10-year note yield above 3.05 percent for the first time in four years. Emerging-market equities dropped the most since March. Gold fell below $1,300 an ounce for the first time since December.
Source : Bloomberg