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 rose, with the Standard & Poor’s 500 Index erasing an earlier slide as a selloff in Internet and smaller companies abated amid optimism over deal activity. Treasuries declined for the first time in a week before Federal Reserve policy makers meet tomorrow.
John Carey, a Boston-based money manager at Pioneer Investments, says stock valuations are at "very interesting levels." Carey talks with Bloomberg's Ken Prewitt and Tom Keene on Bloomberg Radio's "Bloomberg Surveillance."