Stocks Retreat With Dollar as Crops Lead Commodity Gains
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U.S. stocks fell, halting the longest rally for the Standard & Poor’s 500 Index since January, as Coca-Cola Co. slid after earnings declined and a Federal Reserve official called for cuts to stimulus. Treasuries were little changed, the dollar weakened and crops rallied.
The S&P 500 fell for the first time in nine sessions, losing 0.4 percent to 1,676.26 in New York after closing at a record yesterday. The Stoxx Europe 600 Index slid 0.7 percent, retreating from a six-week high. The dollar slipped against 15 of 16 major peers, while 10-year Treasury yields were little changed at 2.53 percent. Cocoa, coffee, nickel and soybeans led the S&P GSCI index to a 0.3 percent gain.