Economics
U.S. Stocks Fall to One-Month Low
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The dollar sank and U.S. stocks fell to a one-month low after data on jobs and productivity added to concern economic growth is not robust enough to withstand higher interest rates. The rout in global bonds continued, while oil advanced amid a drop in supplies.
The Standard & Poor’s 500 Index lost 0.5 percent by 4 p.m. in New York, paring losses in the final hour of trade after earlier sliding below its 100-day moving average. The Bloomberg Dollar Spot Index fell 0.7 percent. Yields on 10-year Treasuries climbed with European bond rates amid a debt selloff that has erased more than $430 billion in value since the start of last week. U.S. crude rose 0.9 percent to $60.93 a barrel.