U.S. stocks drop on Google earnings miss; Spanish bonds advance

European Aid

The yen slid 0.4 percent to 79.26 per dollar as speculation that the Bank of Japan will boost stimulus measures sapped demand for the nation’s assets as a haven.

The euro slipped 0.4 percent to $1.3072. Europe is facing a dramatic situation and it would be fatal for governments to lessen their determination to solve the region’s financial woes, German Chancellor Angela Merkel said before a two-day summit of leaders in Brussels.

Sweden’s krona strengthened at least 0.2 percent against all its major peers after the central bank governor Stefan Ingves said there are risks in keeping interest rates low that “can’t be ignored.”

The MSCI Emerging Markets Index added 0.2 percent. India’s Sensex advanced 1 percent. The BUX Index in Hungary slumped 1.7 percent, extending the 0.7 percent drop yesterday after the government backtracked on a promise to cut a special bank tax in half and said it plans to push ahead with a transaction levy.

Bloomberg News

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