Stocks Retreat as U.S. Growth Misses Forecast, Spain Yields Rise

Stocks fell, dragging the Standard & Poor’s 500 Index to its longest slump in almost four months, as the U.S. economy grew less than estimated and Spain’s three-month borrowing costs more than doubled at an auction. Treasuries advanced and commodities climbed.

The S&P 500 fell for a fifth day, losing 0.4 percent to close at 1,188.04 at 4 p.m. in New York after briefly turning higher amid signs the Federal Reserve was discussing more stimulus efforts. The Stoxx Europe 600 Index lost 0.7 percent. Spain’s two-year note yield surged to the highest since 1997, while Belgium’s 10-year yield reached a nine-year high. Ten-year Treasury yields slipped three basis point to 1.93 percent. The S&P GSCI Index of materials climbed 1 percent.