Cybersecurity
Stocks, Euro, Spain Bonds Drop on Debt Concern; Treasuries Rise
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Stocks sank the most since March while Spanish 10-year bond yields topped 6 percent for the first time since 1997 amid concern Europe’s debt crisis will spread. The euro tumbled, while U.S. Treasuries rallied.
The MSCI All-Country World Index of shares in 45 nations tumbled 2.1 percent, the most in four months, as of 5 p.m. in New York. The Markit iTraxx SovX Western Europe Index of default swaps jumped to an all-time high as Italy’s stock index tumbled to the lowest level in two years. The euro sank 1.7 percent to $1.4029 and reached the weakest price since May. Oil fell 1.1 percent while yields on 10-year Treasuries posted the biggest two-day drop in more than a year.