U.S. Stocks Fall on Economy as Treasuries Pare Early Gain
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U.S. stocks fell the most in three weeks along with European equities as the World Bank cut its global growth forecast. Treasuries pared gains after a 10-year notes auction while wheat entered a bear market.
The Standard & Poor’s 500 Index declined 0.4 percent to 1,943.94 at 4 p.m. in New York, after halting a four-day streak of record closes yesterday. The Stoxx Europe 600 Index lost 0.6 percent, falling from a six-year high. Ten-year Treasuries rose for the first time in four days. Wheat fell 2 percent, extending losses from a May peak to 20 percent amid rising grain supplies. Iraq’s 2028 Eurobond slid the most in a year after fighters from a breakaway al-Qaeda group took control of Mosul.