U.S. stocks and Treasuries pared losses after the Standard & Poor’s 500 Index slipped to a nine-week low and yields on benchmark 10-year notes reached the highest levels since August 2011.
The S&P 500 slid 0.7 percent to 1,580.37 at 2:13 p.m. in New York, after tumbling as much as 2 percent earlier. Ten-year Treasury note yields fell one basis point to 2.53 percent.
Stocks and bonds fell earlier as Chinese equities entered a bear market on concern a cash crunch will hurt the economy and amid mounting speculation the U.S. will begin curbing stimulus.
To contact the editor responsible for this story: Jeff Sutherland at firstname.lastname@example.org