U.S. stocks rose, snapping a four-day slump and halting a global slide, as retailers led gains after reporting better-than-estimated earnings. Ten-year Treasury yields retreated from the highest levels since 2011 and the dollar weakened.
Treasury yields jumped to the highest level since 2011 amid swelling speculation the Federal Reserve will trim its bond purchases next month. Emerging markets led losses in stocks and industrial metals slid.
U.S. benchmark stock indexes tumbled from five-year highs while oil, gold and silver led commodities lower as minutes from the Federal Reserve’s last meeting showed policy makers debated the risks and benefits of bond purchases.