Stocks Decline With Euro as U.S. Budget, Greek Aid Loom
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Stocks fell, following the best weekly rally of 2012 for global equities, as U.S. leaders prepared to negotiate a budget deal and European finance chiefs meet on Greek aid. Treasuries rose for the first time in a week.
The MSCI All-Country World Index slipped 0.1 percent as of 4 p.m. in New York after surging 3.9 percent last week. The Standard & Poor’s 500 Index declined 0.2 percent to 1,406.29, paring an earlier drop of as much as 0.8 percent. The euro weakened against most of its major peers. Treasury 10-year yields lost three basis points to 1.66 percent. Gold snapped a three-day advance in London and New York-traded oil fell as 14 of 24 commodities tracked by the S&P GSCI Index dropped.