U.S. stocks rose and commodities erased losses, while the Dollar Index retreated, as riskier assets recovered from an early slump amid speculation that recent declines were excessive. Treasuries slid after an auction of 30-year bonds drew the weakest demand in six months.
U.S. stocks fell, trimming the biggest first-quarter rally for the Standard & Poor’s 500 Index since 1998, as a Federal Reserve official said interest rates may need to rise and concern about Europe’s debt crisis grew.
U.S. stocks fell, dragging the Dow Jones Industrial Average down from an almost three-year high, as another earthquake shook Japan and a dispute over the federal budget threatened to shut down the American government.
Treasuries slid, pushing the two-year yield up the most since March, after President Barack Obama agreed to extend tax cuts and a three-year note sale drew the lowest demand since February. U.S stocks erased an early rally after a report that an insider-trading probe widened.
Genzyme Corp. ’s rally after reports the drugmaker was approached about a takeover triggered two halts under market circuit breakers adopted in June, frustrating traders trying to speculate on the stock.