Sprint Corp. is nearing an agreement on the price, capital structure and termination fee for an acquisition of T-Mobile U.S. Inc. that could value the wireless carrier at almost $40 a share, people with knowledge of the matter said.
U.S. stocks fell, with the Standard & Poor’s 500 Index headed for a one-month low, while Treasuries and the yen gained as the Federal Reserve said it would make further reductions in economic stimulus and as emerging-market currencies weakened. Gold and natural gas climbed.
With South Africa and Turkey raising rates to support their currencies, as well as a possible second taper announcement occurring today from the U.S. FOMC, stock markets could be retreating because of these interest rate moves.
U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from its biggest drop in three weeks, after Federal Reserve Chairman Ben S. Bernanke said the economy is poised for faster growth even as he cuts stimulus.