Economics
U.S. Stocks Fall as Amazon Drops; Treasuries, Dollar Gain
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U.S. and European stocks fell as companies from Amazon.com Inc. to LVMH Moet Hennessy Louis Vuitton SA missed earnings estimates. Treasuries rose as durable-goods data raised concern over the pace of business investment.
The Nasdaq 100 Index fell 0.5 percent at 4 p.m. in New York as Amazon sank 9.7 percent. The Standard & Poor’s 500 Index retreated 0.5 percent after closing at a record for two straight days. The Stoxx Europe 600 Index slipped 0.7 percent, dropping from a two-week high. Russia’s Micex Index declined 1.5 percent and gold jumped 1 percent. The Bloomberg Dollar Spot Index advanced to the strongest level in more than a month. The yield on 10-year Treasuries slid 4 basis points to 2.47 percent.