U.S. Stocks Slide Most in a Month as Gasoline, Oil Drop
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U.S. stocks fell the most in a month and Treasuries dropped on speculation the budget agreement will make the Federal Reserve more confident to reduce stimulus. Gasoline and oil slid while the yen and euro strengthened.
The Standard & Poor’s 500 Index slipped 1.1 percent to 1,782.22 by 4:30 p.m. in New York and the Stoxx Europe 600 Index lost 0.5 percent. Ten-year Treasury yields increased for the first time in four days. Oil retreated 1.1 percent to $97.44 a barrel after reaching a six-week high yesterday and gasoline decreased 0.7 percent to $2.6632 a gallon. The yen strengthened 0.5 percent to 102.39 per dollar, rebounding from a six-month low, and the euro advanced versus most major peers.