The Euro and European Stocks Fall on Debt Concerns, Spanish Yields Rise

“European stocks fell from a 15- month high, the euro snapped a four-day rally and Spanish bonds dropped after finance chiefs deadlocked over plans for the banking system and Spaindebated whether to seek a bailout. Chinese shares slumped, along with copper and soybeans.

The Stoxx Europe 600 Index lost 0.3 percent at 6 a.m. in New York, while Standard & Poor’s 500 Index futures slipped 0.2 percent. China’s Shanghai Composite Index (SHCOMP) sank 2.1 percent amid concern the world’s second-largest economy is slowing and as tensions with Japan escalated. The euro weakened 0.2 percent to $1.3107. Spain’s two-year note yieldclimbed as much as 15 basis points to 3.29 percent, the highest since Sept. 6. Copper slid 0.4 percent and soybeans retreated 1.6 percent.”

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