Stocks, Euro Retreat, Treasuries Gain as Europe Concern Grows

Global stocks extended the biggest three-day slump since March and the euro weakened as Ireland’s debt rating was cut to junk, adding to signs Europe’s crisis is spreading. Treasury 10-year yields touched a 2011 low.

The MSCI All-Country World Index lost 0.8 percent at 4 p.m. in New York, extending its three-day plunge to 3.4 percent. The S&P 500 fell 0.4 percent to 1,313.64 and is down 2.9 percent in three days. The euro weakened 0.4 percent to a four-month low of $1.3978. Treasury 10-year yields decreased four basis points to