Economics
Stocks Retreat on Economy, Hewlett-Packard; Treasuries Gain
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Stocks fell, extending the longest slump of the year for the MSCI World Index, and commodities dropped as data on housing and industrial output damped the economic outlook and Hewlett-Packard Co. cut its forecasts. The 10-year Treasury yield slid to the lowest level of the year.
The MSCI World, a gauge of stocks in developed markets, lost 0.4 percent at 4 p.m. in New York for a fifth straight decline. The Standard & Poor’s 500 Index slipped less than 0.1 percent to 1,328.98, trimming losses as financial shares gained. The Dollar Index erased gains to trade little changed, while 10-year Treasury yields decreased four basis points to 3.11 percent. Oil slid to an almost three-month low.