Stocks Fall With Emerging Currencies as Treasuries Rise
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Stocks fell, pushing the Standard & Poor’s 500 Index to a third weekly loss, and Treasuries rose amid a slump in emerging-market currencies and weaker corporate earnings. Copper dropped for an eighth day, the longest streak since December 1998.
The S&P 500 slipped 0.7 percent to 1,782.55 as of 4 p.m. in New York, capping the first three-week retreat since May 2012. The Stoxx Europe 600 Index lost 0.3 percent. The Treasury 10-year rate fell four basis points to 2.65 percent, while Germany’s 30-year yields reached the lowest since August. Argentine dollar bonds dropped and Hungary’s forint plunged for a third day. The yen climbed against the dollar for its biggest monthly advance since 2012. U.S. natural gas slid 2.5 percent.