U.S. Stocks Fall With Treasuries as Dollar Weakens: Markets Wrap
- ECB unconvinced inflation on rise as oil gains contribute
- Housing starts rise, jobless claims slip as economy firms
ECB Holds Bond Buying Steady, Watching Inflation
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The Dow Jones Industrial Average erased its 2017 gain, Treasuries slumped and the dollar slipped as investors awaited Donald Trump’s inauguration for clues on whether his policies will boost growth in the world’s largest economy.
The Dow headed for its first five-day slump since the election. Banks slumped as Steven Mnuchin, Trump’s Treasury nominee, didn’t advocate throwing out tough regulations during his Senate confirmation hearing. The greenback erased gains after he said the dollar was “very, very strong.” Treasury yields climbed to the highest level this year. Oil advanced and gold slumped.