Cheap is converging with expensive in the American equity market, narrowing options for investors looking for bargains after the broadest rally on record lifted almost 90 percent of the Standard & Poor’s 500 Index this year.
U.S. stocks and commodities slid as faster economic growth spurred concern the Federal Reserve will scale back stimulus sooner than expected, while Twitter Inc. surged in its trading debut. The euro fell, while the region’s bonds rose, as the European Central Bank cut interest rates.
U.S. stocks fell, dragging the Standard & Poor’s 500 Index to its biggest loss in two months, as speculation the Federal Reserve may scale back stimulus amid faster-than-estimated economic growth overshadowed a move by the European Central Bank to cut a key interest rate.
U.S. stocks fell, giving the Standard & Poor’s 500 Index its fifth drop in six sessions, as data showed a slowdown in Japan’s economic growth and investors awaited tomorrow’s report on America’s retail sales.