Bloomberg News

Stocks, Euro Trim Losses as EU’s Rehn Says He’s Less Pessimistic

August 22, 2012

U.S. stocks pared losses and the euro erased declines as European Economic and Monetary Affairs Commissioner Olli Rehn said he is less pessimistic on the euro outlook than he was in the spring. Treasuries remained higher.

The Standard & Poor’s 500 Index was down less than 0.1 percent at 1,412.06 at 9:55 a.m. in New York after slipping as much as 0.3 percent. The euro was little changed at $1.2471, reversing a drop of 0.3 percent. Ten-year U.S. Treasury yields fell five basis points to 1.75 percent.

To contact the editor responsible for this story: Michael P. Regan at mregan12@bloomberg.net


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