Dollar Retreats With U.S. Stocks as Gold Gains: Markets Wrap
- Crude poised to halt longest winning streak since 2010
- European equities benchmark drops from high for the year
Armstrong: So Many Things Working in Dollar's Favor
The dollar dropped the most in two weeks while oil retreated from its highest close in 17 months as investors prepared to close out a volatile year for financial markets. U.S. stocks slipped to a three-week low in light holiday volume.
The Bloomberg Dollar Spot Index declined for the first time in four days after reaching the highest level in a decade. The S&P 500 Index ended little changed after briefly erasing losses after the U.S. announced sanctions against Russia over election hacks. Trading was almost 40 percent below the 30-day average. The strengthening yen sent Japan’s Topix to its biggest drop in more than a month, while European shares extended losses for 2016. Crude in New York slipped for the first time in nine days, halting the longest rally since 2010. Gold extended its winning streak to the longest since Sept. 22.