Stocks Fall as Dollar Reverses Drop on Bets Fed to Taper
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U.S. stocks fell, pulling benchmark indexes down from records, and the Dollar Index reversed losses as Federal Reserve officials discussed scaling back stimulus efforts. Gold futures extended the longest slump since 2011.
The Standard & Poor’s 500 Index slipped 0.5 percent to 1,650.47 at 4 p.m. in New York after reaching records in nine of the 10 previous sessions. The gauge of the U.S. currency against six trading partners was little changed at 83.80 after earlier retreating as much as 0.5 percent from the highest level since July. Ten-year note yields fell six basis points to 1.88 percent. Oil rose 0.9 percent to $95.16 a barrel, while gold fell 0.7 percent to $1,386.90 an ounce.