U.S. Stocks Fall, Bonds Erase Losses on Ukraine Tension

U.S. stocks fell, with the Standard & Poor’s 500 Index sinking to the lowest since May, amid concern that tension in Ukraine may escalate. The dollar rose after American services data added to evidence growth is gathering pace.

The Standard & Poor’s 500 Index slid 1 percent, while the dollar strengthened to an almost nine-month high versus the euro. Treasury two-year note yields touched the lowest level in more than two weeks at 4:43 p.m. in New York. Ten-year yields trimmed earlier gains sparked by speculation interest rates may rise early next year. U.S. crude tumbled to a six-week low.