U.S. Stocks Fall Most in a Month as Euro, Metals Fall
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U.S. stocks fell the most in a month, the euro weakened and commodities dropped after Spain said the recession will extend into next year and Chinese leaders pledged to clamp down on property speculation.
The Standard & Poor’s 500 Index retreated 1 percent to 1,362.66 at 4 p.m. in New York, the biggest loss since June 25. The euro sank to the lowest level against the yen since November 2000. The yield on 10-year Treasuries fell five basis points to 1.46 percent. The S&P GSCI gauge of commodities slid 0.5 percent and oil in New York declined 1.3 percent. The additional yield investors demand for Spanish debt instead of German bunds reached a record.