Stocks Retreat With Euro, Oil as Spain Bond Yields Surge

Stocks fell, sending Europe’s benchmark index down the most in two months, while the euro weakened and Spain’s 10-year yield topped 6 percent as protests against austerity measures fueled concern the debt crisis will worsen. Treasuries extended the longest rally since 2008.

The Standard & Poor’s 500 Index slipped 0.6 percent to 1,433.32 at 4 p.m. in New York after tumbling 1.1 percent yesterday, the most in three months. The Stoxx Europe 600 Index lost 1.8 percent in its biggest drop since July 23. The euro fell 0.3 percent to $1.2866 and Spain’s 10-year yields jumped as high as 6.07 percent. Treasuries rose for an eighth day, with the 10-year yield down five basis points to 1.62 percent. Oil slid below $90 a barrel for the first time since August.