U.S. stocks fell, sending the Russell 2000 Index toward a correction amid a selloff in small-cap companies, as data showed an unexpected drop in industrial production. The euro weakened while Treasuries rose.
The Standard & Poor��s 500 Index slipped 0.7 percent as of 9:33 a.m. in New York. The Russell 2000 of small companies sank 1.5 percent, bringing its slide from a March high to 10 percent. The Stoxx Europe 600 Index slipped 0.7 percent. The yield on 10-year Treasuries dropped four basis points to 2.50 percent, while the rate on 10-year Italian bonds rose seven basis points to 2.99 percent. Europe��s shared currency declined 0.3 percent to $1.3673. Oil fell 0.6 percent and nickel slid 6.4 percent.
The S&P 500 dropped 0.5 percent and the Russell 2000 Index slid 1.6 percent yesterday amid a selloff in small-cap and technology shares. The S&P 500 has advanced 3.4 percent from a low on April 11, climbing this week to an all-time high of 1,897.45. The Russell 2000 has tumbled more than 1 percent in each of the past three trading sessions.
Copy Source: Bloomberg