Stocks fell as investors assessed a mixed batch of earnings reports and oil held near a three-week low. The dollar strengthened versus all of its peers amid growing confidence that the Federal Reserve will raise interest rates this year.
The MSCI All Country World Index retreated for a third day as shares of Canon Inc. and Telefonica SA dropped following results, while Samsung Electronics Co. and Volkswagen AG rose. The Bloomberg Dollar Spot Index climbed to a seven-month high and U.S. Treasuries extended losses after American data on Wednesday showed pickups in new home sales and services activity. Crude oil traded below $50 a barrel amid doubts that OPEC will implement its first output cuts in eight years.