Stocks, Oil Tumble as Treasuries Advance After Job Growth Slows

Stocks sank, trimming the Standard & Poor’s 500 Index’s biggest two-week gain since 2009, as oil slid and Treasuries jumped as slower-than-estimated job growth spurred concern about the economy. The euro fell and Italian bonds dropped amid speculation Europe’s debt crisis will worsen.

The S&P 500 retreated 0.7 percent to 1,343.80 at 4 p.m. in New York, paring the two-week rally to 5.9 percent. Oil tumbled 2.5 percent to $96.20 a barrel. The S&P GSCI Index of commodities fell 0.8 percent even as gold extended its biggest weekly advance since 2009 amid demand for havens. Five-year Treasury yields decreased as much as 18 basis points to 1.54 percent, the biggest intraday drop in 14 months. The euro depreciated 0.7 percent to $1.4259.