U.S. stocks declined, with the Standard & Poor’s 500 Index reaching a four-week low, as a slide in oil and metals weighed on commodities producers and Greece asked for a deferral on its debt payments.
Freeport-McMoRan Inc., DuPont Co. and fertilizer maker Mosaic Co. lost at least 1.7 percent. Chesapeake Energy Corp. dropped 3.8 percent to lead the energy group lower. Verizon Communications Inc. slid 2 percent after an analyst downgrade. Apparel maker L Brands Inc. added 1.2 percent as May sales exceeded estimates. Wynn Resorts Ltd. jumped 7.2 percent on signs of improvement in Macau’s gambling economy.
The S&P 500 lost 0.9 percent to 2,095.84 at 4 p.m. in New York. The index fell below its average price during the past 50 days, though it’s still within 1.7 percent of its all-time high. The Dow Jones Industrial Average declined 170.69 points, or 0.9 percent, to 17,905.58. The Nasdaq Composite Index retreated 0.8 percent.