Crude Oil Tumbles Below $34 a Barrel as U.S. Supply Glut Expands

Oil dropped below $34 a barrel in New York after U.S. gasoline inventories surged the most in 22 years and crude supplies at the American hub climbed to a record. Brent oil fell to an 11-year low in London as West Texas Intermediate tumbled to a seven-year low in New York. Gasoline stockpiles rose 10.6 million barrels last week, the most since May 1993, government data show. Crude inventories in Cushing, Oklahoma, the delivery point...

Gold Advance in Longest Run Since October as Investors Seek Haven

Gold advanced for a fourth straight day, the longest rally in almost three months, as a selloff in equities and a claim that North Korea detonated a hydrogen bomb boosted demand for a haven asset. Bullion reached the highest in mid-November as stock markets around the world retreated. The atomic-test claims add to investor concerns spurred by Saudi Arabia-Iran tensions and China’s stock-market rout earlier this week that had already...

U.S. Stocks Lost to Three-Month Lows After China Weakens Yuan

U.S. stocks tumbled to three-month lows, following equities around the world after China weakened its currency, stoking investor concern that a slowdown in the world’s second-largest economy will damp global growth. Energy and raw-material companies in the Standard & Poor’s 500 Index led the selloff, losing at least 2.6 percent as China’s move revived the angst that sent financial markets into turmoil last summer. Chevron Corp. declined...

U.S. Shares Head Toward 3-Month Lows After China Weakens Yuan

U.S. shares headed toward three-month lows, mirroring declines in equities around the world after China weakened its currency, stoking investor concern that weakness in the world’s second-largest economy will drag down global growth. Energy and raw-material companies in the Standard & Poor’s 500 Index sank at least 2.6 percent as China’s move revived the angst that sent financial markets into turmoil last summer. Chevron...

Europe Stocks Bad Start to 2016 Worsens With China Back in Focus

European stocks fell after China’s latest weakening of its currency refreshed concerns about the outlook for global growth. The Stoxx Europe 600 Index slid 1.3 percent to 354.35 at the close of trading, its lowest level since Dec. 14. Commodity producers and carmakers -- among the sectors with most sales exposure to China -- led declines. Tuesday’s rebound from the worst-ever start to the year was short-lived: Europe’s equity...