Stocks Fall on Retail Sales; Pound Rallies, Bahrain Bonds Drop
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Stocks retreated, pulling the Standard & Poor’s 500 Index down from a 32-month high and trimming an earlier gain in Europe, after American retail sales grew less than economists forecast and prices of imported goods climbed. The pound rallied, while Bahrain bonds dropped.
The S&P 500 fell 0.3 percent to 1,328.01 at 4 p.m. in New York. The Stoxx Europe 600 Index climbed 0.1 percent after rising as much as 0.3 percent. The pound gained against all 16 major peers amid speculation accelerating U.K. inflation will trigger higher interest rates. Bahrain bonds sank, sending 10-year dollar note yields to a record, as anti-government protests spread. Oil fell to an 11-week low and Treasuries fluctuated.