Young was accused of hurling an anti-Semitic slur at a group of men outside a hotel in the city Friday, then allegedly physically attacking one of them.
Authorities jailed the player on a charge of misdemeanor aggravated harassment after first hospitalizing him for acute alcohol intoxication. He was released Saturday on $5,000 bail.
Young's suspension comes without pay and is retroactive to April 27, meaning the outfielder will be eligible to play Friday.
"Those associated with our game should meet the responsibilities and standards that stem from our game's stature as a social institution," MLB Commissioner Bud Selig said.
"An incident like this cannot and will not be tolerated. I understand that Mr. Young is regretful, and it is my expectation that he will learn from this unfortunate episode."