Stocks, Treasuries, Gold Fall on Fed; Dollar Strengthens

U.S. stocks slid, while Treasuries and gold tumbled and the dollar rallied, as Federal Reserve minutes showed central bankers saw no need for more monetary stimulus unless economic growth slows.

The Standard & Poor’s 500 Index lost 0.4 percent to close at 1,413.38 at 4 p.m. in New York, retreating from an almost four-year high. The Dow Jones Industrial Average decreased 64.94 points to 13,199.55. Yields on 10-year Treasury notes surged 11 basis points to 2.30 percent after falling as much as three basis points. The Dollar Index, a gauge of the currency against six major peers, climbed 0.7 percent. Gold, silver and oil lost more than 1 percent to lead the S&P GSCI Index of commodities down 0.3 percent.