Stocks Drop on Budget, Apple While Treasuries Gain on CPI Data

U.S. stocks fell a second day as the federal budget stalemate dragged on, while Treasuries rose after a drop in consumer prices. Commodities climbed and Chinese stocks surged on signs of manufacturing growth.

The Standard & Poor’s 500 Index dropped 0.4 percent to 1,413.58 at 4 p.m. in New York, erasing a weekly advance as Apple Inc. slid 3.8 percent and was the biggest drag on the gauge. Ten-year U.S. Treasury yields decreased three basis points to 1.70 percent after rising for three days. The S&P GSCI gauge of 24 commodities climbed 0.9 percent as oil added about 1 percent, while the dollar weakened against 13 of 16 major peers.