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Stocks Fall With Oil on Fed Concern as Yen, Pound Advance

Stocks declined amid corporate earnings that disappointed investors and growing concern the Federal Reserve may reduce its bond purchases, while oil capped the biggest four-day slide in nine months. The pound gained after the Bank of England raised its growth forecast.

The MSCI All-Country Index lost 0.6 percent to 374.59 and the Standard & Poor’s 500 Index slipped 0.4 percent at 4 p.m. in New York, extending its three-day drop to 1.1 percent. Japan’s currency gained 1.3 percent to 96.44 per dollar and the pound climbed to a six-week high versus the dollar. The yield on 10-year Treasury notes decreased 4.5 basis points to 2.60 percent. Oil extended its four-day retreat to 3.3 percent, while gold rebounded following its longest slump in 11 weeks.