Stocks, Euro Fall as Greece Concerns Outweigh U.S. Economy Data

Stocks and commodities sank, sending the Standard & Poor’s 500 Index and oil to more than one-year lows, and the euro slid as concern about Europe’s debt crisis overshadowed higher-than-estimated U.S. economic data. Treasury bonds rallied as the Federal Reserve bought longer-term debt.

The Standard & Poor’s 500 Index lost 2.9 percent to 1,099.23 at 4 p.m. New York time as Bank of America Corp. plunged 9.6 percent to a 30-month low. The Stoxx Europe 600 Index slid 1.1 percent. The S&P GSCI Index of commodities fell 0.9 percent and reached a 10-month low. The euro dropped versus 13 of 16 major peers, sinking to the lowest level in more than a decade against the yen. The 30-year Treasury yield plunged 18 basis points to 2.74 percent, the least since January 2009.