(Bloomberg) — US stocks dipped after consumer confidence unexpectedly fell the most in three years, while bonds were under pressure ahead of a Treasury auction Tuesday.
The S&P 500 Index slid 0.2% after the equities benchmark set a closing record in the last session. The Nasdaq 100 gauge edged down 0.3% after the Conference Board’s gauge of sentiment posted the biggest drop since August 2021, data out Tuesday showed.
In individual stock moves, Visa Inc. slumped more than 4% after a report that the US Justice Department plans to file a lawsuit over its alleged monopoly on debit cards. Estee Lauder Cos was among equities rallying after China announced a slew of stimulus aimed at shoring up economic growth. The beauty company generates nearly a third of its sales from Asia.
Traders have been waiting on further signals of how big the Federal Reserve’s next rate cut will be. Their wagers have priced in nearly…
