U.S. Stocks Slump as Treasuries Climb With Brent on Iraq

U.S. stocks fell, reversing earlier gains, and Treasuries advanced amid concern over escalating violence in Iraq as investors gauged the strength of the global economy. Oil held near the highest levels since September.

The Standard & Poor’s 500 Index slid 0.6 percent to 1,949.98 at 4 p.m. in New York, after earlier climbing 0.3 percent to a record. The Dow Jones Industrial Average lost 0.7 percent, the most in a month. Treasury 10-year yields fell five basis points to 2.58 percent. Brent crude added 0.3 percent while West Texas Intermediate slipped 0.1 percent. The Stoxx Europe 600 Index lost 0.2 percent. The MSCI Emerging Markets Index advanced 0.4 percent. Dubai’s benchmark gauge tumbled 6.7 percent after entering a bear market yesterday.