Gold Slumps Most Since March as U.S. Rate Increase Boosts Dollar

Gold posted its biggest loss since March after the Federal Reserve’s first interest-rate increase in almost a decade strengthened the dollar, curbing the appeal of owning precious metals. The U.S. central bank on Wednesday unanimously voted to raise borrowing costs by a quarter of a percentage point. Higher rates reduce the attractiveness of holding bullion, which doesn’t pay interest or give returns like assets such as bonds or equities. Gold...

Oil Nears Lowest Since 2009 After U.S. Supply Glut Expands

Oil neared the lowest level since February 2009 as U.S. crude inventories surged and the Federal Reserve raised interest rates for the first time in almost a decade. Futures fell as much as 2.5 percent in New York after Wednesday’s 4.9 percent decline. U.S. stockpiles climbed to 490.7 million barrels last week, the highest level for this time of year since 1930, the Energy Information Administration reported yesterday. Goldman Sachs...

U.S. Stocks Erase Post-Fed Rally, Commodity Shares Lead Retreat

U.S. stocks dropped, ending the Standard & Poor’s 500 Index’s three-day rally, as investors moved past the Federal Reserve’s interest-rate increase and returned their focus to weakness in commodities and prospects for global growth. A stronger dollar in the wake of the Fed’s move weighed on energy and raw-material shares, as crude tumbled below $35 a barrel. General Mills Inc. sank 3.3 percent after its quarterly results missed estimates,...

U.S. Stocks Decline After Rally as Commodity Shares Lead Retreat

U.S. stocks declined following the Standard & Poor’s 500 Index’s longest winning streak since October, as investors moved past the Federal Reserve’s interest-rate increase and returned their focus to weakness in commodities and prospects for global growth. A stronger dollar in the wake of the Fed’s move weighed on energy and raw-material shares, while crude oil fell for a second day. Cereal maker General Mills Inc. sank 3.3 percent...

Exporters Lead European Stock Rally as Fed Delivers on Rate Rise

Exporters and financial companies led a rally in European stocks after the Federal Reserve fulfilled investor expectations by raising rates for the first time in almost a decade. Investec Plc and Man Group Plc rose at least 3.6 percent, while carmakers Volkswagen AG and Daimler AG advanced 3.3 percent or more. Germany’s DAX Index was among the best performers in western Europe, up 2.6 percent. The Stoxx Europe 600 Index climbed 1.2...