Stocks Fall, Dollar Index Rises After Portugal, Greece Are Cut

Bloomberg
March 29, 2011

Stocks fell worldwide for a second day, the Dollar Index climbed and 10-year Treasury notes reversed losses after Standard & Poor’s reduced Portugal and Greece’s debt ratings, bolstering speculation Europe’s debt crisis will hamper the global economy.

The MSCI All-Country World Index of shares in 45 nations dropped 0.5 percent to 337.85 at 9:57 a.m. New York time. The Standard & Poor’s 500 Index fell 0.3 percent to 1,306.59. The Dollar Index, which measures the currency versus six counterparts, rose 0.2 percent to 76.306. The euro lost 0.1 percent to $1.4074 after strengthening to $1.4149. Yields on 10- year Treasuries were almost unchanged at 3.43 percent after rising to 3.46 percent.

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