U.S. Stocks Post Longest Slide Since 1980, Bonds Rise Amid Angst
- Dollar erases post-jobs advance as election risk looms
- Crude oil has worst week since January amid OPEC Doubts
Markets Revel in Prospect of Epic Political Gridlock
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U.S. stocks posted their longest slide since 1980, while Treasuries rallied after data showing progress in the American labor market did little to soothe anxiety over the presidential election. Oil slumped.
The S&P 500 Index dropped for a ninth straight day, a gauge of equity volatility had the longest stretch of gains on record and Treasuries climbed the most since September ahead of next week’s vote. All the jitters sent the dollar down after a brief advance that followed data showing U.S. jobs rose at a steady pace in October, supporting a Federal Reserve hike next month. Oil sank as hopes faded that OPEC will be able to implement a deal to cut output.