Global Stocks Drop Amid Commodity Slump Before Fed as Yen Climbs
- U.S. crude posts biggest two-day decline since Feb. 11 on Iran
- Brazil shares lead losses as President Rousseff fights to stay
Bridging the Gap on Fed, Investor Growth Expectations
Global stocks retreated and emerging-market assets fell as the biggest two-day slide for commodity prices in a month reminded investors of the financial-market turmoil that marked the start of this year.
The Standard & Poor’s 500 Index fell a second day, paring declines in the latter half of the day as gains in technology shares offset losses among energy and raw materials producers. Benchmark equity gauges in Europe and Asia retreated from their highest levels since January, as the Federal Reserve began a two-day policy meeting. Brazil and South Africa led losses in developing-nation markets, as investors sought refuge in the yen and the dollar. West Texas Intermediate oil posted its first back-to-back drop in a month after Russia signaled Iran won’t join major producers in freezing output.