U.S. Stocks Decline With Treasuries While Yen Weakens

U.S. stocks and Treasuries retreated as economists said the Federal Reserve may scale back its stimulus efforts as early as September amid an improving economy. The yen fell against most of its counterparts and Turkish shares rebounded from the worst drop in a decade.

The Standard & Poor’s 500 Index lost 0.6 percent to 1,631.38 as of 4 p.m. in New York. The Dollar Index climbed 0.1 percent, while the yen slid against the U.S. currency for the first time in five days. Ten-year Treasury yields rose two basis points to 2.14 percent, trading near 14-month highs. Silver, corn and gold retreated at least 1 percent, while gains in industrial metals sent the S&P GSCI Index of commodities up 0.5 percent. Turkey’s benchmark equity gauge recovered about half of yesterday’s 10.5 percent slump.