S&P 500 Snaps Six-Day Winning Run as Bonds Climb: Markets Wrap

Wall Street traders sent stocks lower in the run-up to the Federal Reserve decision, with concerns about high valuations overshadowing hopes for an extension of a tariff truce between the world’s two largest economies. Bonds climbed alongside the dollar.

The S&P 500 snapped a six-day winning streak. A rally in Treasuries gained steam after a solid $44 billion sale. Longer-dated bonds led gains, with 30-year yields down 10 basis points ahead of the US announcement on the size of future debt auctions. Oil jumped as President Donald Trump reiterated the US may impose additional levies on Russia unless it reached a truce with Ukraine.