Stocks, Bonds Decline With Commodities as Dollar Gains on Fed
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U.S. stocks and Treasuries fell with commodities while the dollar gained as minutes of the Federal Reserve’s July meeting showed officials supported reducing monetary stimulus this year if the economy improves.
The Standard & Poor’s 500 Index fell 0.6 percent to 1,642.80 at 4 p.m. in New York. The Dow Jones Industrial Average slumped for the sixth straight day, the longest streak in more than a year. Thirty-year Treasury yields jumped six basis points to 3.92 percent, a two-year high. The S&P GSCI gauge of 24 commodities dropped 0.5 percent. The Bloomberg U.S. Dollar Index climbed 0.6 percent. The MSCI Emerging Markets Index tumbled 1.1 percent for a fifth straight decline, with Turkish stocks falling the most as the lira plummeted.