U.S. stocks dropped to a two-month low as technology shares slipped, while Treasuries rose and the dollar fell. European equities slid with bonds in the region as Group of Seven leaders pushed for resolution to Greece’s debt crisis.
The Standard & Poor’s 500 Index lost 0.6 percent at 4 p.m. in New York, dropping through its average price for the past 100 days to the lowest since April 7. The Nasdaq 100 Index slid 1 percent, while the Dow Jones Industrial Average erased its gain for 2015. The Stoxx Europe 600 Index dropped 0.9 percent, capping its longest slide this year as Germany’s DAX Index entered a correction. Treasuries rebounded from the worst weekly slide since February.
Investors are assessing the timing of the Federal Reserve’s next policy move after bonds tumbled and the dollar rallied Friday following data that showed a pickup in hiring. The euro rose for the first time in three days as a selloff in European debt resumed, lifting yields and burnishing the appeal of the currency. The G-7 called for action on Greece amid talks between the nation and creditors Monday.
Source : Bloomberg