China’s weakening economic expansion and slowing earnings growth in the U.S. sent copper into a bear market and gold to the biggest weekly drop in a year and a half, while global stocks fell the most in 10 months.
Most U.S. stocks fell, after the Standard & Poor’s 500 Index rose to its highest level since April, as investor concern about Europe’s debt crisis overshadowed a rally in technology and financial companies.
Stocks rose, with the Standard & Poor’s 500 Index rebounding from a two-month low, while European equities erased early losses and the euro snapped the longest slide since 2008 as Greece attempted to form a new government.
U.S. stocks climbed, giving the Standard & Poor’s 500 Index its biggest gain of the month, as better-than-estimated housing starts added to expectations the world’s largest economy will weather Europe’s debt crisis.
Federal prosecutors don’t plan to bring charges against former American International Group Inc. executive Joseph Cassano after a two-year probe of the insurer’s collapse, according to a person familiar with the investigation.
Money managers removed a record $4.23 billion from commodity funds in the week ended Feb. 27, led by declines in precious-metal holdings, as raw materials capped the biggest monthly loss since October.