Stocks Fall on Growth Concern as Euro Drops; Bonds Rally

Global stocks slid for a seventh day, the longest slump since November, amid concern a faltering economic recovery will hurt corporate profits. The euro fell to a two-year low, the yen and dollar gained and government bond yields from Germany to South Korea fell to records.

The MSCI All-Country World Index lost 1 percent at 4 p.m. in New York and the Standard & Poor’s 500 Index slipped 0.5 percent, while rallies in Procter & Gamble Co. and Merck & Co. limited the Dow Jones Industrial Average’s drop. German two-year note yields fell to minus 0.042 percent and 10-year U.S. yields were within four basis points of the lowest ever. The yen rose against all 16 major peers and the dollar gained versus 13. Corn and wheat led commodities up as a drought threatens U.S. crops. Oil erased losses as the U.S. added sanctions against Iran.