S&P 500 Halts 7-Day Rally While Gold Drops, Oil Advances

U.S. stocks fell, halting a seven-day rally in the Standard & Poor’s 500 Index, while gold slid the most since July and Treasuries erased early gains as investors weighed prospects for Federal Reserve stimulus. Oil climbed ahead of U.S.-Russian talks on Syria.

The S&P 500 lost 0.3 percent to 1,683.42 at 4 p.m. in New York, retreating from the highest level in almost a month. Gold for December delivery dropped 2.4 percent to $1,330.60 an ounce, while oil rose 1 percent. Treasury 10-year note yields were little changed at 2.91 percent, after dropping five basis points earlier, and German bund rates slid five basis points to 2.00 percent. Japan’s currency climbed 0.4 percent to 99.45 per dollar. The Australian dollar fell for the first time in a week and the nation’s bonds rallied after unemployment rose.