Pursuits
S&P 500 Falls Most in 3 Weeks, Dollar Rallies Amid Stronger Data
Bond Yields, Vix, Greece Add to Uncertain Markets
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U.S. stocks dropped the most in three weeks while the dollar jumped to an almost eight-year high versus the yen after data from housing to manufacturing beat estimates, boosting the case for higher interest rates. Oil retreated.
The Standard & Poor’s 500 Index lost 1 percent by 4 p.m. in New York, its biggest slide since May 5. The Bloomberg Dollar Spot Index added 0.9 percent, while Treasuries rose on safety demand amid concern that Greece’s debt crisis will worsen. Brent crude slumped to a one-month low as gold futures settled 1.4 percent lower. Industrial metals also declined.