U.S. Stocks Pare Monthly Gain; Dollar Dominates Yen, Gas Slumps

U.S. stocks slipped from near records before an update on economic growth, while the dollar climbed to a 12-year high versus the yen after a Japanese official warned against a rapid currency depreciation. European equities fell as concern over Greece mounted, while natural gas slid.

The Standard & Poor’s 500 Index lost 0.1 percent by 4 p.m. in New York, trimming its May advance to 1.7 percent. The greenback jumped to its strongest level since 2002 against the yen, while the Bloomberg Dollar Spot Index was little changed. The Stoxx Europe 600 Index dropped 0.5 percent, after the Shanghai Composite Index posted its steepest one-day slide since January. Natural gas futures tumbled the most since March.