U.S.
stocks declined from records as oil dropped below $50 a barrel. The
dollar strengthened against emerging-market currencies before Federal
Reserve Chair Janet Yellen addresses Congress this week.
The
Standard & Poor™s 500 Index slid 0.3 percent at 12:47 p.m. in New
York after closing at an all-time high on Friday. The Stoxx Europe 600
Index added 0.7 percent, while Portugal™s 10-year rate reached 2.118
percent, below its U.S. equivalent. The dollar strengthened, while the
ruble slid 3.6 percent in offshore trading after Moody™s Investors
Service downgraded Russia to junk. Oil lost 3.2 percent in New York.
Major
U.S. equity benchmarks closed at records Friday after Greece reached a
deal to extend the terms of its bailout. Investors will watch Yellen™s
semi-annual testimony to Congress starting Tuesday for clues on the
timing of an interest-rate increase. A report Monday showed sales of
existing U.S. homes fell more than forecast last month. European
equities gained on the Greek deal.
Source: Bloomberg
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