U.S. Stocks Pare Losses on Budget Optimism; Yen Falls
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U.S. stocks pared most of their early declines amid optimism President Barack Obama and Congress will reach a deal on the budget impasse. Treasuries trimmed gains; commodities reversed losses.
The Standard & Poor’s 500 Index closed down 0.1 percent at 1,418.10 at 4 p.m. in New York, trimming an earlier plunge of