U.S. stocks fell, after the Standard & Poor’s 500 Index rose to within one point of a record close, as the International Monetary Fund warned of risks to global growth and Federal Reserve indicated stimulus cuts will likely continue.
U.S. stocks fell with Treasuries while the dollar gained as Federal Reserve meeting minutes indicated stimulus cuts would likely continue in measured steps and the International Monetary Fund warned of risks to global growth. Ukraine’s bonds tumbled while U.S. natural gas jumped.
U.S. Steel Corp., the nation’s largest producer of the metal by volume, fell the most in 17 months after the Department of Commerce rejected its claim that South Korea is selling steel tubing into the U.S. below cost.
Sales of automobiles in the U.S., forecast to reach a seven-year high in 2014, are increasing demand for car parts by Toyota Motor Corp. and General Motors Co., in turn boosting air shipments from the world’s largest parts makers.