Stocks, Spanish Bonds Decline on Draghi Concern; Treasuries Gain

U.S. stocks fell for a fourth day and Spanish bonds tumbled after European Central Bank President Mario Draghi failed to reassure investors he was ready to take immediate steps to support the economy. Treasuries gained, while the euro and commodities declined.

The Standard & Poor’s 500 Index slid 0.7 percent to 1,365 as of 4 p.m. in New York, bringing its weekly loss to 1.5 percent. Spain’s IBEX 35 fell 5.2 percent and the Stoxx Europe 600 Index declined 1.3 percent. The euro weakened 0.4 percent to $1.2182. Oil slumped 2 percent to $87.13 a barrel. The 10-year Treasury yield lost four basis points to 1.48 percent. Spanish 10-year yields advanced 43 basis points to 7.16 percent.