Stocks fall as plunging metals fan global selloff

Stocks retreated globally as a rout in gold and silver extended a broad flight from riskier assets.

The S&P 500 was set to open 0.7% lower after sliding as much as 1.5%. Gold headed for its steepest three-day drop since 1980 as a record-breaking rally unraveled at breakneck speed. Silver extended losses to 40% over the same period.

Treasuries posted modest gains, with the 10-year yield falling two basis points to 4.22%. The dollar held onto Friday’s gains. Bitcoin steadied near $77,0000 following a weekend selloff.