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Stocks Extend Losses; Hang Seng Enters Bear Market: Markets Wrap

(Bloomberg) Stocks climbed as dip buyers resurfaced at the end of a week marked by a surge in global volatility. All major groups in the S&P 500 advanced, while the NYSE FANG+ Index of giants such as Apple Inc. and Facebook Inc. halted a five-day slide. Chinese shares listed in the U.S. rallied Friday, but still suffered their longest streak of weekly losses in a decade. Both the dollar and Treasuries were little changed. Financial markets were rattled this week by speculation the global recovery could lose momentum just as central banks get ready to reduce support measures. Dallas Federal Reserve President Robert Kaplan said he’s open to adjusting his view that the Fed should start tapering its asset-purchase program sooner rather than later if the delta variant persists and hurts economic progress. While risks to the economy are mounting, money managers in search of returns are sticking to equities. U.S. stock-fund data collected before the Fed signaled it could potentially start ....

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