Stocks Fall as Treasuries, Gold Drop While Pound Weakens

U.S. and European stocks fell for a fifth day, gold slid and Treasury yields reached the highest level since September as improving economic data fueled bets the Federal Reserve will reduce stimulus. The euro rose as the central bank gave no sign it will start negative deposit rates.

The Standard & Poor’s 500 Index slipped 0.4 percent to 1,785.03 by 4:30 p.m. in New York, extending its longest slump since September, while the benchmark gauge of U.S. options rose an eighth day to match a record rally. The Stoxx Europe 600 Index dropped to a seven-week low while the euro gained versus 13 of 16 major currencies. Ten-year Treasury yields rose three basis points to 2.87 percent and German bund rates added five basis points. Gold and silver fell more than 1.5 percent.