U.S. equity-index futures slid and
Treasuries rallied as the euro fluctuated near a more-than 11-year low after Greek voters handed victory to a party that’s
pledged to renegotiate the terms of an international bailout.
Asian stocks dropped with crude oil and industrial metals.
Standard & Poor’s 500 Index futures sank 0.6 percent by 3:51 p.m. in Tokyo and the yield on 30-year Treasuries fell to a record. The 19-nation euro dropped to as low as $1.1098, the lowest since September 2003, before gaining 0.1 percent. The MSCI Asia Pacific Index (MXAP) lost 0.3 percent. U.S. crude declined 1.6 percent and nickel slid 2.2 percent in London. China’s yuan headed for its biggest two-day drop since 2008 versus the dollar.
Greece’s Syriza won a more decisive victory than polls predicted, coming within two seats of an absolute majority with most votes counted. The success of Syriza, which pledged to secure a writedown of the nation’s debt and end austerity measures, is spurring concern that opponents of the European Union’s efforts to impose fiscal discipline elsewhere may also win power. Germany’s Ifo Business Expectations survey is due, while fighting in Ukraine spread to the port city of Mariupol.