Stocks fell for a third day, the longest stretch in two months. Asian markets were hit with some selling as the negatives that have been lurking in the markets are coming to the forefront of investor sentiment: Higher oil prices, slower growth in China & ongoing concerns over Greece.
There is also a lack of any fresh catalysts as well as a fresh wave of capital raising also weigh.
Bloomberg reported that the MSCI All-Country World Index (MXWD) lost 0.9%; Standard & Poor’s 500 Index futures slipped 0.9 percent. The yen appreciated against all 16 of its most-traded peers, climbing 0.8 percent versus the dollar. The yield on the Spanish 10-year bond rose eight basis points, with the similar- maturity U.S. Treasury note yield falling four basis points. Copper declined 1.7 percent and oil slipped 0.8 percent, while the yen strengthened. Spanish bonds declined and U.S. Treasuries gained.