U.S. Stocks Fall Amid Rate Concerns as Commodity Shares Tumble

U.S. stocks fell as a rout in commodities pressured energy and raw-materials providers while investors braced for the first rise in interest rates since 2006. Chevron Corp. dropped 2.9 percent and Freeport-McMoRan Inc. tumbled 6.2 percent as the stronger dollar and a persistent slump in demand from China sent the Bloomberg Commodity Index to the lowest since 1999. Equities slipped to session lows after Fed Bank of New York President...

Fed Dudley Says Need for Higher Rates Soon is Quite Possible

The Federal Reserve’s policy committee may need to begin raising interest rates for the first time since 2006, though some slack remains in the labor market, Federal Reserve Bank of New York President William C. Dudley said Thursday. “I think it is quite possible that the conditions the Committee has established to begin to normalize monetary policy could soon be satisfied,” Dudley said in a speech in New York. “I will be evaluating...

At Least 37 Killed in Twin Suicide Blasts in Lebanese Capital

Lebanese officials said at least 37 people were killed and nearly 200 wounded in twin suicide blasts in a predominantly Shi'ite suburb in Lebanon's capital, Beirut. Authorities said the explosions occurred minutes apart late Thursday in Burj al-Barajneh, a busy commercial and residential area in southern Beirut. The area, a stronghold of the Lebanese militant group Hezbollah, has been hit in the past. Sunni militants groups have threatened...

Dollar Falls for Second Day as Fed Officials Stress Gradual Path

The dollar dropped for a second day after Federal Reserve policy makers shied away from reaffirming investors’ expectation of an interest-rate increase next month. Currency investors, who’ve been accumulating bets on a stronger dollar this month, were disappointed when New York Fed President William C. Dudley said policy should be tightened only gradually after interest rates are increased for the first time since 2006. Commodities...

U.S. Stocks Fall Amid Rate Concerns as Commodity Shares Tumble

U.S. stocks fell the most in six weeks as a rout in commodities pressured energy and raw-materials providers while investors braced for the first rise in interest rates since 2006. Chevron Corp. dropped 2.5 percent and miner Freeport-McMoRan Inc. sank 5.8 percent as the stronger dollar and a persistent slump in demand from China sent the Bloomberg Commodity Index to the lowest since 1999. The recent weakness in commodity shares is a...