U.S. stocks fell for the first time in three days, the dollar slumped and Treasuries gained as Donald Trump’s threat to shut down the government sparked concern Congress won’t easily raise the debt ceiling and deliver on tax reform. Oil rose after a report on stockpiles.
All major American equity benchmarks retreated and the 10-year Treasury yield hit the lowest since June as Trump’s gambit prompted Fitch Ratings to warn the country risks a review of its sovereign rating if it fails to raise the limit next month. The dollar slipped amid fresh data showing uneven U.S. growth that contrasted with renewed evidence of strength in Europe ahead of a central-bank symposium in Jackson Hole, Wyoming.
S&P 500 fell 0.3% to 2,444.01 with consumer discretionary and industrial shares leading declines. The index is down 1.1% in August after four straight monthly gains. Dow slid 87.86 points to 21,812.03.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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