U.S. Stocks Retreat; Dollar Index Extends Longest Rally
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Stocks fell as talks to form a new Greek government failed and concern grew about the stability of the nation’s banks, while the Dollar Index extended its longest rally ever as the euro slid to a four-month low.
The Standard & Poor’s 500 Index fell 0.6 percent to close at a three-month low of 1,330.66 at 4 p.m. in New York. The Dollar Index, a gauge of the currency against six major peers, rose for the 12th straight day. The Stoxx Europe 600 Index closed at the lowest level of the year and oil slumped to a five-month low. Ten-year Treasury yields were little changed at 1.77 percent while Spanish and Italian 10-year yields rose at least 12 basis points.