U.S. Stocks Fall With Dollar; Treasuries Rise on Greece Deadlock
People Too Focused on Short Term: WPP's Sorrell
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U.S. stocks fell, while the euro rebounded versus the dollar after data showed the American economy is struggling to regain momentum. European equities tumbled as Treasuries rallied amid Greece’s impasse with its creditors.
The Standard & Poor’s 500 Index slid 0.5 percent by 4 p.m. in New York, after earlier losing as much as 1 percent. The Stoxx Europe 600 Index fell 1.6 percent, while the euro added 0.2 percent to $1.1283, reversing a decline. Spain’s 10-year bond yields jumped 17 basis points. Rates on similar-maturity German bunds and Treasuries fell as investors sought out haven assets. Oil dropped a third day and copper lost 1.2 percent.