“Spain’s 10-year debt yield climbed above 7 percent and stocks fell as European finance ministers prepared to meet to hammer out a rescue plan for banks. U.S. equity-index futures slid before Alcoa (AA) Inc. reports earnings.
The yield on Spain’s 10-year bond jumped 11 basis points to 7.07 percent at 7:20 a.m. in New York, and the German two-year note yields were below zero for the second day. The euro was little changed at $1.2296, after sliding to $1.2251, the weakest since July 2010. The Stoxx Europe 600 Index slipped 0.4 percent and Standard & Poor’s 500 Index futures retreated 0.5 percent. Corn rose 3.9 percent and oil gained 0.8 percent.”
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