Stocks and Dollar Dropped, Treasuries Rallied
August 7th, 2010 | File Under : Mining Stock - Trade & Market
Stocks and the dollar dropped and Treasuries rallied, sending the yield on the two-year note below 0.5 percent for the first time, as lower-than-estimated growth in company payrolls added to evidence the economic recovery is slowing. Gold extended the longest advance since November.
The Standard & Poor’s 500 Index lost 0.4 percent to 1,121.64 at 4 p.m. in New York, trimming a drop of as much as 1.7 percent. The Stoxx Europe 600 Index decreased 1.1 percent, reversing earlier gains. Two-year Treasury yields fell to as low as 0.4977 percent. The dollar slumped to an eight-month low...
