Overnight: U.S

Overnight: U.S. stocks trimmed earlier losses as investors took in encouraging retail-sales data, but also a jobless-claims report that was worse than expected. U.S. Treasury prices added to modest losses, pushing up yields after data showed a strong rise in November retail sales, boosting expectations the Federal Reserve will move earlier than previously thought to scale back the flow of monetary stimulus to the economy. Gold futures took a hit, prices down by more than $30 an ounce for their biggest one-day loss since October. Oil futures edged higher. U.K. stocks declined, led by banks and resource firms amid worries over a potential reduction in U.S. bond buys. European stock markets posted sharp losses. London BHP down 1.71%. Rio down 0.67%. New York BHP down 1.85%. Rio up 0.08% LME Base metals traded mixed.