Stocks, Euro Retreat on Spain Recession, U.S. Data
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Stocks fell, while the euro weakened for a third day against the yen, as reports showed Spain entered its second recession since 2009 and U.S. business activity cooled. Treasuries and German bunds advanced.
The Standard & Poor’s 500 Index lost 0.4 percent to 1,397.91 at 4 p.m. in New York and snapped its longest streak of monthly gains since 2009. The Stoxx Europe 600 Index declined 0.7 percent. The euro weakened 0.7 percent versus the yen. Ten-year Treasury yields decreased one basis point to 1.92 percent and the rate on similar-maturity German bunds declined four points to 1.66 percent, approaching last week’s record low of 1.63 percent. Oil slipped 6 cents to $104.87.