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Euro, Stocks, Commodities Fall on Debt Contagion Concern

The euro snapped a three-day rally versus the dollar, stocks and commodities slid and Treasuries rose as Ireland’s financial bailout failed to assuage concern Europe’s debt crisis may spread. Banks led U.S. shares lower as federal agents searched hedge funds in an insider-trading probe.

The euro slid 0.3 percent to $1.3627. The Standard & Poor’s 500 Index lost 0.2 percent to 1,197.84 and the S&P GSCI Index of commodities declined 0.3 percent. The costs to protect Irish and Portuguese debt from default surged, while the 10-year U.S. Treasury yield decreased seven basis points to 2.80 percent before a sale of $99 billion of notes this week. After the U.S. close, S&P 500 futures dropped 0.2 percent at 7 p.m. in New York while Australian and South Korean stocks fell in early trading.