U.S. stocks fell for a fourth day in the longest slide since January, as declines in transportation shares overshadowed a rebound in technology companies. Treasuries tumbled amid weak auction demand, while oil advanced as Saudi Arabia bombed targets in Yemen.
The Standard & Poor’s 500 slipped 0.2 percent at 4 p.m. in New York, erasing advances in 2015. The gauge fluctuated between gains and losses throughout the session after earlier losing as much as 0.8 percent. The Stoxx Europe 600 Index lost 0.9 percent. The yield on 10-year Treasury notes added eight basis points to 2 percent. The Bloomberg Dollar Spot Index strengthened 0.3 percent. U.S. crude climbed for a fifth day, and gold added 0.7 percent to pace gains among metals.
The S&P 500 has tumbled 2.5 percent this week, leaving it 0.1 percent for the year, as poor data from manufacturing to housing raised concern that growth may be slowing at the same time analysts forecast the first contraction in quarterly profit since 2009. Yemen has emerged as the latest ground for a proxy fight between Iran and Saudi Arabia, the world’s top oil exporter.
Source : Bloomberg