Global Stocks Decline the Most This Year as Commodities, Euro Post Losses

Global stocks fell the most this year, commodities slid and the euro weakened as a plan to help Greece avoid default threatened to unravel and U.S. consumer confidence trailed estimates.

Treasuries and costs to protect European debt rose.

The MSCI All-Country World Index (MXWD) lost 1.3 percent at 4 p.m. in New York.

The Standard & Poor’s 500 Index tumbled 0.7 percent from a seven-month high, paring a drop of as much as 1.1 percent, and the Dow Jones Industrial Average lost 89.23 points.

The S&P GSCI Index dropped 0.9 percent as 21 of its 24 commodities fell.

The euro sank 0.9 percent to $1.3172 after touching a two-month high yesterday. Ten-year Treasury yields slid seven basis points to 1.97 percent, as Spain’s 10-year rate rose 13 basis points to 5.30 percent.

The Markit iTraxx SovX Western Europe Index of credit-default swaps on 15 governments climbed 8 basis points to 330.

From: Bloomberg