U.S. stocks fell, with the Standard & Poor’s 500 Index retreating for a second day after holiday spending slowed and gauges of manufacturing in China and Germany dropped. Oil rebounded from its lowest level in five years and gold rallied, while Treasuries declined.
The S&P 500 lost 0.7 percent to 2,053.44 by 4 p.m. in New York, as the Nasdaq 100 Index slipped 1.2 percent amid a 3.3 percent slide in shares of Apple Inc. West Texas Intermediate crude jumped 4.3 percent to $69 a barrel, after slumping to $63.72, its lowest price since July 2009. Gold futures climbed from a three-week low as silver surged. Yields on 10-year Treasuries rose seven basis points to 2.23 percent, while the Bloomberg Dollar Spot Index dropped 0.3 percent. Wheat soared.