Stocks, Euro Pare Losses on Speculation of EU Agreement

U.S. stocks and the euro pared losses amid speculation that European leaders were nearing an agreement on plans to halt contagion from the debt crisis.

The Standard & Poor’s 500 Index slipped 0.2 percent to 1,329.01 at 4 p.m. in New York after earlier slumping as much as 1.4 percent. The euro slipped less than 0.2 percent to $1.2447 after earlier dropping as much as 0.5 percent.

Italy and Spain may get short-term relief to ease financing pressure, Xinhua reported, citing a European Union source at the summit in Brussels. German Chancellor Angela Merkel canceled a press briefing at the summit and her spokesman said talks on a growth accord were ongoing.

To contact the reporter on this story: Michael P. Regan in New York at

To contact the editor responsible for this story: Lynn Thomasson at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.