Economics
Stocks Extend Selloff as Dow Erases Year’s Gain; Treasuries Rise
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Global stocks extended a selloff, with the Dow Jones Industrial Average erasing gains for the year, as losses among chipmakers spread to the broader market amid concern over economic growth. Treasuries climbed with the dollar.
Standard & Poor’s 500 Index slipped 1.1 percent at 4 p.m. in New York, giving it the biggest weekly loss in two years. The Dow retreated 0.7 percent while the Nasdaq Composite plunged 2.3 percent. The MSCI All-Country World Index tumbled 1.6 percent, capping the worst week since June 2013. The Stoxx Europe 600 Index retreated the most since May 2012 over the five days. Crude oil capped the biggest weekly drop since January amid signs of a global glut. The Bloomberg Dollar Spot Index jumped