Stocks slid with Treasuries and gold while the dollar rallied as better-than-forecast data on business activity and consumer confidence fueled speculation the Federal Reserve will scale back its bond purchases. The Standard & Poor’s 500 Index trimmed a seventh straight monthly gain.
The S&P 500 retreated 1.4 percent to 1,630.74, its worst drop in six weeks, and capped its first back-to-back weekly declines of the year. Ten-year Treasury yields increased two basis points to 2.13 percent after surging as much as 10 basis points. The Dollar Index, a gauge of the currency against six major peers, jumped 0.3 percent to 83.27 and surged 1.9 percent in May. The Stoxx Europe 600 Index dropped 0.9 percent. The S&P GSCI gauge of 24 commodities slid for a third day, decreasing 1.1 percent as gold and oil paced losses.
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