U.S. Stocks Post Longest Slump in 1 Month as Spanish Yields Soar
This article is for subscribers only.
U.S. stocks fell, giving benchmark indexes the longest slump in more than a month, after a jump in Spanish bond yields above 7 percent intensified concern about Europe’s crisis and as investors awaited Alcoa Inc.’s results.
Alcoa advanced 0.2 percent at 5:46 p.m. New York time after earnings and revenue analysts’ beat estimates. Exxon Mobil Corp. and DuPont Co. dropped more than 1.3 percent to pace losses among the biggest companies. The largest payment networks Visa Inc. and MasterCard Inc. slumped at least 1.3 percent after being downgraded at UBS AG. Patriot Coal Corp. plunged 72 percent before it filed for bankruptcy protection.