Dollar Rises to 12-Year High Amid European Bond-Buying, Fed Bets

The dollar surged to the strongest level in almost 12 years as the specter of higher U.S. interest rates and the European Central Bank’s acceleration of its bond-buying program cascaded through global financial markets. The U.S. currency rallied against 14 of its 16 major peers as national central banks in the euro region were said to have purchased sovereign debt for a second...

Gold Hits 3-Month Low on Dollar Rise, U.S. Rate Expectations

Gold fell to a three-month low on Tuesday, pressured by the dollar's rise to its highest in nearly 12 years and renewed expectations of a midyear interest rate increase in the United States. Spot gold dropped to its lowest since Dec. 1 at $1,155.60 an ounce in early trading and was down 0.4 percent at $1,161.55 by 2:09, while U.S. gold for April delivery settled down $6.40 an ounce at $1,160.10. Platinum fell to its lowest since July...

Stronger Dollar Sends U.S. Stocks to Biggest Drop in Two Months

The strongest dollar in nearly 12 years versus the euro and the specter of higher U.S. interest rates fueled a selloff in global equities that sent the Standard & Poor’s 500 Index to its biggest slide since Jan. 5. Oil and copper declined. The S&P 500 fell 1.7 percent at 4 p.m. in New York, slipping below its average price for the past 50 days and erasing its gains in 2015. The Dow Jones Industrial Average lost 328 points in...

European Stocks Fall With Energy Shares Amid U.S. Rate Concern

European stocks fell for a second day as oil-and-gas shares dropped and concern grew the Federal Reserve is nearing an interest-rate increase. The Stoxx Europe 600 Index lost 0.9 percent to 389.66 at the close of trading. It earlier rose as much as 0.2 percent. All 19 industry groups fell, with energy shares dropping the most. Royal Dutch Shell Plc, BG Group Plc and BP Plc dropped more than 3 percent as crude fell for a fifth day amid...

S&P 500 May Fall 9% as Job Data Force Fed’s Hand, Deutsche Says

Five weeks above 2,000 for the Standard & Poor’s 500 Index may be long enough, says Deutsche Bank AG’s David Bianco. After last week’s U.S. employment report, investors are increasingly convinced the Federal Reserve will raise interest rates by mid-year, Bianco said. That could result in a decline of up to 9 percent in the benchmark gauge, according to Bianco. The dollar’s strongest...