Dow extends longest drop since 1978

US stocks fell, extending the longest slump since 1978 for the Dow Jones Industrial Average, and treasuries rose as concern the economy is slowing overshadowed the cheapest equity valuations in a year. Oil tumbled, while the franc slid as Switzerland cut interest rates.

The Dow slid for a ninth straight day, losing 76.18 points to an almost four-month low of 11,789.76 at 11.44 am in New York.