U.S. Stocks Fall, Treasuries Rise Before Fed’s Summit

U.S. stocks fell while Treasuries rose as investors awaited a speech from Federal Reserve Chairman Ben S. Bernanke to gauge the outlook for monetary policy. Apple Inc. surged after winning a patent case.

The S&P 500 slipped less than 0.1 percent to close at 1,410.44 at 4 p.m. in New York. Apple rallied to a record. Ten-year Treasury yields lost four basis points to 1.65 percent. Spot gasoline on the U.S. Gulf Coast rose to the highest price in almost four years after refineries shut as Tropical Storm Isaac approached Louisiana. The Stoxx Europe 600 Index rose and Spain’s bonds halted a three-day drop.