- Oil tumbles to one-month low; Gold, yen rally on haven buying
- Stoxx Europe 600 slides toward the lowest level since 2016
U.S. stocks fell for a fifth day, with the S&P 500 touching the lowest level since May and the Nasdaq flirting with a correction, on concern that corporate profit growth has peaked. Gold, yen and Treasuries all rallied as investors sought havens.
The Dow Jones Industrial Average plunged more than 500 points, or 2.2 percent, but paring losses by more than half in early afternoon trading. The Russell 2000 Index briefly turned negative for the year as investors grew concerned that the trade war and rising interest rates have put an end to runaway expansion of corporate profits.
Vildana Hajric & Sarah Ponczek | Bloomberg