Stocks Drop on Stimulus Outlook as Asian Futures Decline

U.S stocks fell and Asian equity futures dropped on concern central banks are growing reluctant to add more stimulus after the Bank of Japan left its lending program unchanged. Ten-year Treasury yields fell from a 14-month high and the yen was little changed after surging yesterday.

The Standard & Poor’s 500 Index declined 1 percent in New York, while futures on the Nikkei 225 Stock Average slid 2.8 percent and contracts on the Hang Seng Index retreated 0.6 percent. The MSCI All-Country World Index dropped 0.7 percent by 7:15 a.m. in Tokyo. Japan’s currency gained less than 0.1 percent after rallying the most in three years yesterday against the dollar. West Texas Intermediate crude declined 0.5 percent, while the Australian dollar added 0.3 percent.