U.S. stocks fell for the first time in five days, extending a global drop, as a report showed the nation lost more jobs than forecast, commodities slid and the Standard & Poor’s 500 Index traded at the most expensive in eight months.

Valero Energy Corp. lost 18 percent after estimating a second-quarter loss and saying it will sell shares. Aetna Inc., the third-largest U.S. health insurer, dropped 4.7 percent on a reduced 2009 earnings outlook. Russia’s benchmark stock index slid 7.5 percent to lead a slump in global stocks after the MSCI World Index’s valuation reached a five-year high. Oil declined the most in five weeks, while Treasuries and the dollar rose.

The S&P 500, which closed at a seven-month high yesterday, slid 1.4 percent to 931.8 at 4:06 p.m. in New York. The Dow Jones Industrial Average lost 64.67 points, or 0.7 percent, to 8,676.2. Yesterday, the Dow briefly erased its 2009 loss for the first time since January. Seven stocks fell for every two rising on the New York Stock Exchange.

(Bloomberg.com)