U.S. Stocks, Commodities Drop, Treasuries Gain on Economic Data

U.S. stocks fell and commodities slumped, while 10-year Treasuries rallied for a fifth straight day, as lower-than-forecast growth in service industries and employment damped optimism about the health of the economy. The euro and Portuguese bonds rose after a bailout agreement.

The Standard & Poor’s 500 Index lost 0.7 percent to 1,347.32 at 4 p.m. in New York as commodity producers led declines. The S&P/GSCI Index of raw materials sank 1.5 percent as silver extended its biggest three-day plunge since 1983, copper dropped the most in eight weeks and oil lost 1.6 percent to $109.24 a barrel. Ten-year Treasury yields decreased three basis points to 3.22 percent, the lowest since March. Portugal’s two-year note yield tumbled 43 basis points to 11.39 percent.