Stocks Fall on Trade War Fears

Key Points:

* The S&P 500 slipped from a record high as investors reacted to President Trump's latest tariff threats.
* Homebuilders declined on reports of slowing US housing starts.
* Tech giants Intel and Toll Brothers fell on disappointing results and forecasts.
* E-commerce company Etsy missed earnings expectations, citing ongoing challenges.
* Oil refiner Phillips 66 faces pressure from Elliott Investment Management to sell its pipeline business.
* Swiss mining giant Glencore considers moving its primary listing away from London.

Market Summary:

Stocks:

* S&P 500: -0.2%
* Nasdaq 100: -0.2%
* Dow Jones Industrial Average: -0.4%
* Stoxx Europe 600: -0.9%
* MSCI World Index: -0.4%

Currencies:

* Bloomberg Dollar Spot Index: +0.1%
* Euro: -0.1%
* British Pound: -0.2%
* Japanese Yen: +0.3%

Cryptocurrencies:

* Bitcoin: +1.5%
* Ether: +2.7%

Bonds:

* 10-year Treasury yield: +1 basis point to 4.56%
* 10-year German yield: +6 basis points to 2.55%
* 10-year British yield: +5 basis points to 4.61%

Commodities:

* West Texas Intermediate crude oil: +1.5% to $72.94 a barrel
* Spot gold: Little change

Upcoming Economic Events:

* Thursday: China loan prime rates, Eurozone consumer confidence, US initial jobless claims, Philadelphia Fed manufacturing index
* Friday: Eurozone HCOB manufacturing & services PMI, US S&P Global manufacturing & services PMI, existing home sales, consumer sentiment

Corporate Highlights:

* Etsy reports missed fourth-quarter earnings and a challenging outlook.
* Celanese sees persistent weakness in end markets.
* Bumble provides weaker-than-expected first-quarter forecast.
* Elliott Investment Management seeks board seats at Phillips 66.
* Roper Technologies explores the sale of its Neptune Technology Group division.
* Glencore considers relocating its primary listing away from London.
* AngloGold Ashanti posts a $1 billion profit on record bullion prices.
* Prada evaluates the Versace brand as a potential acquisition target.