Stocks Fall as Bond Yields Rise on Economy; Oil Gains on Egypt

Stocks tumbled, with European shares snapping a five-day rally and U.S. benchmark indexes reaching one-month lows, as improving economic data triggered losses in government bonds that sent Treasury yields to two-year highs. Oil, gold and silver rallied.

The MSCI All-Country World Index lost 0.9 percent at 4 p.m. in New York. The Standard & Poor’s 500 Index slid 1.4 percent, the most since June, as Cisco Systems Inc. and Wal-Mart Stores Inc. tumbled after forecasts disappointed investors. The 30-year Treasury yield added 6.5 basis points to 3.82 percent. The Bloomberg U.S. Dollar Index erased earlier gains to drop 0.5 percent while the pound strengthened after U.K. retail sales jumped more than forecast. The S&P GSCI gauge of 24 commodities added 0.8 percent with oil rallying as violence in Egypt fanned concern about Middle East supplies.