S&P 500 Extends Worst Month Since May 2012 While Oil Retreats

U.S. stocks extended the worst monthly drop since May 2012 as investors weighed prospects for an American military response to a chemical weapons attack in Syria. Oil and European shares fell while Portugal’s bond yields surged amid concern the nation won’t meet its deficit target.

The Standard & Poor’s 500 Index lost 0.3 percent to 1,632.97 at 4 p.m. in New York to extend its loss for August to more than 3 percent. The Stoxx Europe 600 Index retreated 0.9 percent today while the MSCI Emerging Markets Index gained 0.8 percent. Portuguese yields jumped to the highest level in more than a month. Ten-year Treasury yields increased 1.5 basis points to 2.78 percent, with the benchmark note posting a fourth month of losses. West Texas Intermediate oil slipped 1.1 percent to $107.65 a barrel and silver and gold retreated.