Gold and silver sank with oil, while the dollar weakened against most peers and Treasuries rose as investors dissected speeches from Federal Reserve officials to gauge the outlook for stimulus. Most U.S. stocks fell after the Dow Jones Industrial Average exceeded 16,000 for the first time.
The likelihood that China’s stocks will rally toward the end of the year has diminished because the government is unlikely to take steps to boost the economy and accepts slowing growth, according to Deutsche Bank AG.
China told banks to stop loans for third-home purchases as the government steps up measures to cool property prices with some of the “most draconian” orders yet. Shares of developers and banks tumbled.