Stocks Sink as Treasuries, Yen Rise; Oil Drops on Saudi Output

U.S. stocks extended a sixth weekly drop, the longest slump for the Dow Jones Industrial Average since 2002, and oil slid while Treasuries, the dollar and yen rose amid concern the global economy is slowing. Crude extended losses as OPEC said Saudi Arabia pumped the most since 2008.

The Dow lost 172.45 points, or 1.4 percent, to 11,951.91 at 4 p.m. in New York, its first dip below 12,000 since March, and the Standard & Poor’s 500 Index fell 1.4 percent to 1,270.98. Ten-year Treasury yields lost three basis points to 2.97 percent, the Dollar Index rose for a third day and the yen strengthened against all 16 major peers. The cost of insuring Greek and Portuguese debt rose to records amid lingering concern over Europe’s debt crisis. Oil sank below $100 a barrel.