U.S. Stocks Retreat on Syria Concern as Treasuries, Crops Gain

U.S. stocks fell, erasing earlier gains in the final hour, as Secretary of State John Kerry said the president will hold Syria’s government accountable for using chemical weapons. Treasuries advanced, while crops led commodities higher.

The Standard & Poor’s 500 Index decreased 0.4 percent to 1,656.78 at 4 p.m. in New York with trading volumes 21 percent below the 30-day average. The yield on 10-year Treasuries dropped three basis points to 2.79 percent while the S&P GSCI Index of 24 raw materials climbed 0.2 percent to a one-month high, with corn and soybeans surging as hot, dry weather in the Midwest threatened to reduce crop harvests. Turkey’s lira slid as much as 0.6 percent to a record against the dollar and India’s rupee sank 1.5 percent.