Stocks Sink With Bonds, Dollar Rallies as Complacency Broken
- Rosengren hawkish comments send yields higher with dollar
- S&P 500 heads for biggest retreat since June in broad selloff
U.S. Stocks Slide: Is This the Next Taper Tantrum?
Tranquility that has enveloped global markets for more than two months was upended as central banks start to question the benefits of further monetary easing, sending government debt, stocks and emerging-market assets to the biggest declines since June. The dollar jumped.
The S&P 500 Index, global equities and emerging-market assets tumbled at least 2 percent in the biggest rout since Britain voted to secede from the European Union. The yield on the 10-year Treasury note jumped to the highest since June and the greenback almost erased a weekly slide as a Federal Reserve official warned waiting too long to raise rates threatened to overheat the economy. German 10-year yields rose above zero for the first time since July after the European Central Bank downplayed the need for more stimulus.