Stocks Slide as Crude Slump Worsens While Euro Slips to 2006 Low

Stocks fell around the world as energy shares plunged and U.S. crude oil sank below $50 for the first time since April 2009. The euro weakened to an almost nine-year low, while Treasuries rose with gold on demand for haven assets.

The Standard & Poor’s 500 Index fell 1.8 percent by the 4 p.m. close, its biggest drop since Oct. 9. The Stoxx Europe 600 Index slid 2.2 percent, as a gauge of European energy stocks dropped the most in three years. West Texas Intermediate oil tumbled as much as 5.5 percent to $49.77 a barrel. The euro declined 0.5 percent to $1.1937, after touching its weakest level since March 2006. Yields on 10-year Treasuries fell eight basis points to 2.04 percent. Gold futures added 1.5 percent.