Stocks Fall on China Economy as Yen Gains; Metals Drop

Stocks fell for a second day after China announced the lowest economic growth target since 2004 and European services and manufacturing output was less than earlier estimated. The yen climbed, while Treasuries declined.

The S&P 500 lost 0.4 percent to close at 1,364.33 at 4 p.m. in New York and the Dow Jones Industrial Average slipped 14.76 points to 12,962.81. The yen strengthened against all 16 most-traded peers, while China weakened its currency’s daily fixing by the most since November 2010 and said it may widen its trading band. Oil was little changed, while copper slid 1.1 percent and natural gas fell 5.2 percent. Ten-year Treasury yields rose three basis points to 2.005 percent.