Skip to content
Subscriber Only

Stocks, Commodities, Dollar Drop on Concern Recovery Is Slowing

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.