U.S. stocks fell, while bonds rallied around the world as a deepening commodities rout and an unexpected drop in American retail sales fueled concern over growth. Copper sank the most since 2011, as crude oil and natural gas climbed.
The Standard & Poor’s 500 Index dropped 0.6 percent by 4 p.m. in New York, paring a slump of as much as 1.7 percent after a Federal Reserve survey indicated gains in consumer spending and as a rally of more than 5 percent in U.S. crude sent energy stocks higher. Copper tumbled 5.3 percent in its ninth straight day of losses, as natural gas futures jumped 9.9 percent, the most since February. The yen gained versus 12 of its 16 major peers, while 30-year Treasury yields slid to a record.