U.S. Stocks, Dollar Decline as Fed Meets

Treasuries rose as signs of a sluggish economy and falling inflation expectations tempered the outlook for higher interest rates. Commodities producers led U.S. stocks lower, while oil extended a six-year low.

The yield on 10-year Treasury notes declined two basis points to 2.05 percent at 4 p.m. in New York, as the Federal Reserve holds a two-day policy meeting. The rate reached 2.04 percent, the lowest since March 2. The Standard & Poor’s 500 Index dropped 0.3 percent, following a 1.4 percent surge Monday that was the biggest in five weeks. Apple Inc. and Facebook Inc. led the Nasdaq 100 Index higher. Copper lost the most in a week, while oil slid 1 percent.