U.S. stocks tumbled, with the Nasdaq Composite Index falling the most in two months, as investors continued a selloff of the bull market’s biggest winners. Treasuries rallied as jobs data boosted speculation the Federal Reserve will remain accommodative on rates.
U.S. stocks fell, with the Nasdaq Composite Index sliding the most in two months, after large technology stocks from Google Inc. to Yahoo Inc. plunged as investors sold the bull market’s biggest winners.
Pacific Investment Management Co.’s Bill Gross said the pace of employment growth in the U.S. means the Federal Reserve will continue to wind down bond purchases and then consider raising interest rates.
Carter Cleveland, chief executive officer of Artsy.net, says he is opening a market that has been “intimidating” or closed to the masses. Cleveland talks with Bloomberg’s Tom Keene and Scarlet Fu on Bloomberg Radio’s "Bloomberg Surveillance."
The U.S. Securities and Exchange Commission is conducting a formal inquiry into an online gambling website’s Bitcoin-denominated stock sale after the agency signaled that such dealings may break U.S. laws.
Treasuries dropped for a second day amid bets that weaker-than-forecast economic data this week resulted from harsh winter weather and won’t keep the Federal Reserve from reducing bond purchases further.