Stocks, commodities and the dollar slumped as data on manufacturing, jobless claims and home sales fueled concern the economic recovery is faltering. The yen surged to a seven-month high versus the U.S. currency.
The Standard & Poor’s 500 Index fell for the fourth straight day, losing 0.3 percent to 1,027.37 at 4 p.m. in New York, its lowest close since Oct. 2, 2009, after sinking as much as 1.9 percent earlier. The MSCI World Index of 24 developed nations slipped 0.4 percent to a 10-month low. Oil and copper tumbled at least 2.5 percent. The euro rallied against the dollar as a Spanish bond sale met targets and pessimism surrounding European banks diminished. Gold tumbled.